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Could Gwede Mantashe be 'saviour' of mining industry?

16 March 2018 9:14 AM
Tags:
Gwede Mantashe
Mining charter
Mineral Resources Minister Gwede Mantashe
Deputy Editor at the Financial Mail Sikonathi Mantshantsha chats to Kieno Kammies about the financial week that was.

Talks designed to finalise the long-awaited Mining Charter are due to get under way this weekend.

Mineral Resources Minister Gwede Mantashe said he wants the details of the charter secured within the next three months.

The Chamber of Mines says whatever this third iteration of the charter, it must bring growth and recovery to the mining sector.

Sikonathi Mantshantsha , Deputy Editor, Financial Mail

It has called Mantashe ' a man of integrity'.

Sikonathi Mantshantsha, Deputy Editor, Financial Mail

President Cyril Ramaphosa said shortly after his election to office that the drafting of a new version of the Mining Charter would be a top priority for his administration.

Meanwhile VBS Mutual Bank is opposing the decision by the South African Reserve Bank (Sarb) to put it into curatorship.

The shareholders filed court papers three days ago saying the Reserve Bank didn't give them a chance and they were negotiating with the Public Investment Corportion for a R1.5-billion loan.

Sikonathi Mantshantsha, Deputy Editor, Financial Mail

Although VBS later withdrew the papers, it has said placing of the bank under curatorship is unconstitutional.

Listen to this week's Financial Week That Was:


This article first appeared on CapeTalk : Could Gwede Mantashe be 'saviour' of mining industry?


16 March 2018 9:14 AM
Tags:
Gwede Mantashe
Mining charter
Mineral Resources Minister Gwede Mantashe

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