UASA Media Release: 23 September 2021
Statement by Abigail Moyo, spokesperson of the trade union UASA:
The contested 2018 Mining Charter is not a binding instrument of law but instead a policy document, effectively underscoring the principle of “once empowered, always empowered” in the industry, as ruled by the High Court this week.
While mining companies have long argued that the sweeping changes in the charter, including the need to refresh black ownership levels to 30% from 26% on transfers and renewals of mining rights, were detrimental to their business, UASA believes a top-up to 30% would have been beneficial for our members.
However, we accept that the issue of “Once empower, always empower” has now been decided and welcome the ruling. It will certainly encourage foreign investment in South Africa.
The ruling comes at the right time for the South African economy, especially after a year and a half of Covid-19-related lockdowns. This is just one more reason why South Africa should be removed from the UK’s Covid-19 red list so that investors can conduct their independent due diligence investigations in South Africa.
The Department of Minerals can now go ahead with the setting up of its electronic one-stop shop where future investors can apply for prospecting and mining licences at one department as the current system of different government departments is not conducive to business.
The ruling will most definitely contribute to our vision that the mining industry is a sun rise industry instead of a sunset industry.
For further enquiries or to set up a personal interview, contact Abigail Moyo at 065 170 0162.