Get App
Download App Scanner
Scan to Download
Advertisement
This Article is From Jul 05, 2018

S. Africa Seeks Re-Opening of Shuttered Mines to Boost Economy

S. Africa Seeks Re-Opening of Shuttered Mines to Boost Economy

(Bloomberg) -- South African mines that are on care and maintenance are bad for the economy and the issue is being raised with the Minerals Council, Mineral Resources Minister Gwede Mantashe said.

The Department of Minerals and Energy has been to 11 mining areas to obtain feedback on the mining charter, Mantashe said at the opening of Sasol Ltd.'s Shondoni Colliery in Secunda in Mpumalanga province.

The government published the latest draft of the Mining Charter on June 15 after months of negotiations with companies, labor unions and communities. The set of rules is aimed at redistributing the country's mineral wealth more equally among South Africans to make up for racial discrimination during apartheid.

Sasol officially inaugurated its new Shondoni Colliery on Thursday as part of its 14 billion rand ($1 billion) mine replacement program, as the Middelbult Colliery reached the end of its lifespan.

To contact the reporter on this story: Paul Burkhardt in Johannesburg at pburkhardt@bloomberg.net

To contact the editors responsible for this story: Jacqueline Mackenzie at jmackenzie9@bloomberg.net, Alastair Reed

©2018 Bloomberg L.P.

Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.

Newsletters

Update Email
to get newsletters straight to your inbox
⚠️ Add your Email ID to receive Newsletters
Note: You will be signed up automatically after adding email

News for You

Set as Trusted Source
on Google Search
Add NDTV Profit As Google Preferred Source
Listen to the latest songs, only on JioSaavn.com