LATEST MINING CHARTER ON BEE CHAMBER WEBSITE
THE BEE CHAMBER / 28 SEPTEMBER 2018 - 05.55 / REABETSOE NENGWENANI
Available to Professional Members
The Gazetted Mining Charter
The Mining Charter was gazetted by the Minister Gwede Mantashe.
Find the latest copy of the Mining Charter on the BEE Chamber website under free document downloads.
Highlights of the Mining Charter
The newly gazetted charter prescribes the requirements around Ownership and Mine Community Development. The Mining Charter 2010 will apply to all pending applications lodged and accepted prior to the gazetting of the 2018 Mining Charter.
New mining rights must have a minimum of 30% BEE shareholding throughout the duration of the mining right, which should be distributed as follows:
A minimum of 5% non-transferable carried interest to qualifying employees
A minimum of 5% non-transferable carried interest to host communities or a minimum of 5% equity equivalent benefit.
A minimum of 20% effective ownership in the form of share to BEE Entrepreneur, a minimum of 5% which must preferable be for women.
It promotes beneficiation in the form equity equivalent mechanism against a maximum of 5% points of a BEE Entrepreneur.
It provides requirements to promote the use of local content for a more inclusive Procurement, Supplier and Enterprise Development, by requiring proof of local content and the promotion of research and development capabilities.
A mining right holder is expected to invest a minimum of 5% of leviable amount towards Skills Development, which should be on the essential skills such as science, technology, engineering and mathematical skills, graduate training programmes and R&D initiatives.
Employment Equity requires the representation of Historically Disadvantaged Persons in proportion to provincial or national demographics.
Mine Community Development requires a mining right holder to contribute towards projects socio-economic development needs in the community they operate.
Housing and Living Conditions Plan need to be submitted by a mining right holder and approved by the Department.