Monday, June 26, 2017
Zwane released the third review of the 2004 Mining Charter on June 15. After the release, mining company shares on the Johannesburg Stock Exchange lost 50.69 billion rand (3.93 billion dollars) in value. The Chamber of Mines, the industry's representative body, has signalled that it will seek a court interdict, citing insufficient consultation on the revised Charter's contents.
- Zwane’s handling of the Charter will further worsen poor relations between business and government.
- New Minister of Finance Malusi Gigaba will struggle to reassure investors and ratings agencies of policy continuity.
- The Charter could exacerbate divisions between ANC factions over proposals to pursue ‘radical economic transformation’.