14 July 2017

South Africa: DA Welcomes Halting of Mining Charter

press release

The DA welcomes the suspension of the disastrous Mining Charter, pending the outcome of the Chamber of Mine's urgent interdict application.

The release of the latest version of the Chatter caused an astounding R50 billion market value loss in mining shares, in just one fell swoop.

It must said that the DA supports share schemes for miners when they are structured to benefit the workers and are economically viable.

However, 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 ANC government would do well to take this opportunity to review the Charter and to present an effective plan that will attract investment, create jobs and benefit our people, not just the connected few.

Alf Lees MP

DA Shadow Deputy Minister of Finance

South Africa

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