RE: Mining charter - 1 of 227 Sep 2018 12:59
mitch and pb940, thanks for covering the press announcements for us, they've shown a slight improvement in some areas over the draft charter of a few weeks ago. Sadly tho, there's still that 'hands-out' thinking embedded into it.
I honestly wouldn't be so opposed to BEE if it was structured in such a way that either the Treasury or local communities or both were the beneficiaries (altho that would require strong anti-corruption enforcement, esp in ANC-led areas). But at least that way, if properly and ethically run, all the people of SA would benefit rather than just a few well-connected and already wealthy 'historically disadvantaged' black people.
What was also not mentioned today (and I wonder why it wasn't) was all the other red tape that was in the draft. Such things as who we're allowed to buy our supplies from, and the percentage composition of those suppliers eg 51% women or youth or whatever other Marxist rubbish was in there, the ethnic and male/female percentage make-up of mining company boards, etc. All of that has still to be revealed/ confirmed, but not one of those new rules makes it any easier for miners in SA to get on with their businesses; instead it all just adds to the drag factor.
Like Daisan, I'm also expecting this to go through the courts thereby removing the 'policy certainty' Gweedy keeps banging on about.