S.Africa to review penalties on mining charter

Wed Aug 24, 2011

CAPE TOWN (Reuters) - South Africa is reviewing its mining law to strengthen the penalty provisions for non-compliance of the mining charter, which aims to transfer ownership to previously excluded blacks, a government official said on Wednesday.

"We are looking at beefing up the penalty provisions that may be imposed on mining companies for non-compliance to serve as a deterrent and to ensure there is greater compliance," Andre Andreas, director of mineral policy development at the Department of Mineral Resources, told parliament.

Parliament is conducting public hearings on the charter, which aims at transforming the mining industry by transferring 26 percent of the key sector into black hands by 2014.