Top Menu

Opposition party welcomes halting of Mining Charter

South Africa’s official opposition party, the Democratic Alliance (DA), has welcomed the temporary suspension of the 15 June gazetted Mining Charter III.

In a statement, the political party described the Charter as a “disastrous mining charter”.

“The release of the latest version of the charter caused an astounding R50-billion loss in the market value of mining shares, in just one fell swoop,” said Alf Less, DA Deputy Shadow Minister of Finance.

“The DA supports share schemes for miners when they are structured to benefit the workers and are economically viable,” the he added.

According to the party, the mining charter was not designed to benefit miners but instead to “make cronies and insiders richer, as they open up new opportunities to get in on mining deals.”

The DA says the government should review the Charter and present an effective plan that “will attract investment, create jobs and benefit our people, not just the connected few.”

The party suggested that the ruling party takes this opportunity to review the Charter and to present an effective plan that will attract investment, create jobs and benefit the South African people, not just the connected few.

, ,

Comments are closed.