Our Broad-Based Black Economic Empowerment (B-BBEEE) expert, Richard Ryding, reported last week, that the Reviewed Broad-Based Black Economic Empowerment Charter for the South African Mining and Minerals Industry (the Charter or the Mining Charter) was gazetted on 15 June 2017. It was not received favourably by industry and, he predicted, it would be subject to litigation in the future.
That prediction has come to pass sooner rather than later.
Yesterday, it was reported in the media that the Mining Charter has been suspended pending an urgent court application by the Chamber of Mines to have the Mining Charter set aside and reviewed on both procedural and substantive grounds.
“Chamber of Mines CEO Roger Baxter says the chamber believes more needs to be done by the government to help the industry through its crisis. He has welcomed suspension of the new Mining Charter Picture,” states Linda Ensor in an article entitled Roger Baxter welcomes Mining Charter reprieve on the Business Day website.
The urgent application was due to be held today, however it is stated that this application could be held as late as September this year.
We will keep you updated on further developments.