Press Release Archive - 2002

We are pleased that it has been made clear that the leaked draft South African mining industry Charter is not official and does not in any way reflect South African Government policy.

The mining industry remains a fundamental pillar of the South African economy and is identified in the minds of investors, internationally and domestically, with business in South Africa. To that extent the Minerals Bill is the most important piece of legislation enacted since the South African Constitution came into effect in 1994 and it is vital that the South African Government should implement the Act in a way which promotes the stability and growth of the mining industry and confirms the reputation of South Africa as a proponent of sound and investor friendly economic policies.

It is therefore further reassuring that we and the South African Government at the highest level have agreed to meet in the next few days to set the scene for a constructive debate on the negotiation of the South African mining industry Charter. We are confident that the meeting will confirm the fundamental principles governing industry transformation to which the South African Government and the industry have committed themselves, most importantly the security of tenure and the sale and transfer of assets in a transparent manner reflecting fair market value.

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