Mining Sector – "Unacceptable" Changes Just Proposed In This Major Nation

Mining Sector – “Unacceptable” Changes Just Proposed In This Major Nation by Dave Forest, Pierce Points

The mining sector in one of the world’s most important platinum, gold and coal nations is in an uproar this week. After the government surprised the industry with some controversial changes Friday.

The place is South Africa. Where the national government published a draft of a new Mining Charter for the country’s industry late last week — containing some unexpected proposed measures.

One of the biggest surprises was new rules for Black Economic Empowerment (BEE) requirements. With the government making a decisive declaration on the so-called “once empowered, always empowered” issue.

Here’s the crux. Mining enterprises in South Africa are currently required to sell 26% of...