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Mix-Ansicht- Nochmals zum Minengesetz in Südafrika - Artikel - spieler, 28.07.2002, 14:35
Nochmals zum Minengesetz in Südafrika - Artikel
http://www.businessreport.co.za/htm...27192910518S512792&set_id=60
The past two weeks have been marred by huge questions over the structure of black empowerment deals and the extent to which the government could standardise these deals through the charter.
The mining industry charter was expected to kick in December, when the Minerals and Petroleum Resources Development Bill is enacted.
Meyer said the bulk of the London investing community had been left wondering how long it would be until existing mining assets would have to comply with the 51 percent empowerment quota.
There was no indication of whether mining companies would receive compensation for the assets transferred to empowerment groups.
"Despite the government saying this is just the first draft, share prices will continue to fall until the South African government applies itself," Meyer said.
Junior miners agreed that the proposed minimum ownership levels had to tempered with realism.
Tiego Moseneke, the chairperson of the New Diamond Corporation (NDC), said:"We must get the buy-in of all the major players in the mining industry so that they understand the need to re-stimulate new economic activity and avoid having them obstruct the government's transformation plans."
But still some industry commentators labelled the proposal as"creeping nationalisation".
Dawie Roodt, an economist at PLJ Financial Services, said it was irresponsible of the government to prescribe these things until they were properly structured.
"This kind of thing just feeds the world's perceptions of Africa as the hopeless continent. Obviously we have to do something about the ways of the past but government must be extremely careful," cautioned Roodt.
"Soon it may not pay to be in the mining industry," said Roodt.
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