Business In The News South Africa

Land, mining uncertainty threatens South Africa’s growth – Moody’s

Johannesburg, June 26 – International rating agency, Moody’s, on Tuesday said uncertainty around land and mining reforms might hinder South Africa’s growth. Moody’s Analyst and Senior Credit Officer, Lucie Villa, said in a research report in Johannesburg that the reforms had remained a concern for investors. Villa said that weak business confidence could limit the […]

Business In The News South Africa

Mantashe vows to finalise mining charter in June

JOHANNESBURG, May 24  – South African minister of mineral resources Gwede Mantashe said on Thursday his department plans to finalise the revamped mining charter, the government’s regulation tool for transformation, by the end of next month. “We aim to finalise and gazette the mining charter in June, having taken on-board inputs and concerns from stakeholders across the country,” Mantashe […]

Business In The News South Africa

#MiningIndaba: SA mining industry pledges to work with govt to revive economy

JOHANNESBURG, February 1 – South Africa’s mining industry on Thursday expressed hope that the election of new leadership for the ruling African National Congress (ANC) signals a new dawn for collaboration between the government and the sector to boost the economy. The ANC elected the country’s deputy president and leader of government business Cyril Ramaphosa […]

Business In The News South Africa

PPC says working on transaction to boost its BEE shareholding

JOHANNESBURG, December 14 – Cement producer PPC said on Thursday it had approved the framework for a transaction to restore the equity shareholding in its local operation prescribed by black economic empowerment (BEE) laws. PPC said BEE equity shareholding in the company had been significantly reduced in 2016, leaving it non-compliant with requirements of the Mineral and Petroleum […]

In The News South Africa

Zwane concerned about “prolonged legal uncertainty” over mining charter

JOHANNESBURG, November 27 – South African mineral resources minister Mosebenzi Zwane said on Monday he was concerned about the “prolonged legal uncertainty” over the country’s contentious mining charter.     The Pretoria High Court on Friday postponed a hearing on the charter to take place between 19 and 21 February next year from the original […]

Business In The News South Africa

Chamber of Mines reluctantly accepts co-applicants in Mining Charter review

JOHANNESBURG, November 14 – The Chamber of Mines of South Africa said on Tuesday that it respected the decision of the high court to grant two parties leave to become co-applicants in its application for a review of the controversial Mining Charter.     This comes after the Centre for Applied Legal Studies (CALS) and Lawyers for Human […]

In The News South Africa

ANC’s economic transformation policy ‘patronage politics’, says Maimane

JOHANNESBURG, October 4 –  Mmusi Maimane, the leader of the opposition party in South Africa, the Democratic Alliance, on Wednesday described the radical economic transformation policy of the ruling African National Congress (ANC) as “a poorly disguised extension of lucrative patronage politics”. Maimane said the ANC’s definition of radical economic transformation was a way of legislating the […]