RE: Mining Charter Disagreements18 Jun 2018 10:04
It just doesn't seem like the charter mooted and for me regardless of the impact on BMN, that is the disappointment. It seems a long way from what Cyril suggested would underpin the restoration of mining as a sunrise industry for SA. The 1% EBITDA policy, coupled with 30% BEE, 10% free carry legislation feels like the wrong strategy. The charter should be about letting companies grow and sharing their success, rather than crippling them from day one.
Tbh I am suprised about the quotas. They so rarely work because they are not related to capability. (I think Faramog also mentioned this).
The UK abandoned its quota system for disabled enjoyment in 1995, preferring instead to rely on legislation making it generally unlawful to discriminate against disabled people in the hiring process and in the employment relationship. This has been far more successful than quotas ever were because it focuses on suitability and injustice rather than mandated employment.
In France there are penalties for not meeting quotas that are up to 600x the hourly rate. Many companies pay the fine rather than meet the quotas.
I am all for equal opportunity and success for everyone,but it's not rocket science to see that an ailing industry needs space to flourish and develop a level of success that can actually be shared out more broadly and in a robust way for years to come.