CHAMBER OF MINES SEEKS CLARITY IN RESPECT OF THE CONTINUING CONSEQUENCES OF PREVIOUS BEE DEALS
Certainty needed for a sustainable mining industry, says CEO Roger Baxter
Johannesburg, South Africa: The Chamber of Mines, advises that it has approached the High Court of South Africa for a declaratory order to provide guidance on the principles applicable to the assessment of the ownership element of the Mining Charter, particularly in respect of the continuous consequences of previous black economic empowerment (BEE) deals (see BDLive report).
Subsequent to the announcement made on 31 March 2015 that the industry and the DMR would jointly seek court resolution on the matter, it has become clear that the legal mechanism available to the parties necessitates a clear applicant and respondent, with an identifiable and clear point of dispute. A joint application, by definition, suggests some form of agreement between the parties, resulting in a request for a legal opinion, which is not the function of a court.
The Department of Mineral Resources (DMR) has been fully apprised of the Chamber’s approach, and engagement with the DMR continues on this and broader Mining Charter issues.
Chamber of Mines CEO, Roger Baxter noted: “The Chamber and its members fully support the transformation objectives of the Mineral and Petroleum Resources Development Act and have taken meaningful steps to give effect to them. The Chamber remains committed to joint resolution on the matter with the DMR, but we believe that it is in the interests of the industry and the country that this is done swiftly. The industry and its stakeholders need regulatory certainty in respect of continuing consequences on which basis mineral rights have been granted, and which have been disclosed to shareholders, so as to ensure the sustainability of the industry.”