Broad-Based Socio-Economic Empowerment Charter for the Mining and Minerals Industry

Country / jurisdiction: South Africa · Year: 2019 · Status: In force · Level: National · Type: Voluntary

The regulation aims to facilitate sustainable transformation, growth and development of the mining industry while redressing historical socio-economic inequalities, by promoting the participation of Historically Disadvantaged Persons (as defined therein) in the mining and minerals industry.

Some of the benefits that the complying companies are entitled to are to offset a certain percentage of the amount spent on qualifying beneficiation investments against procurement obligations and the possibility to apply for equity equivalent credits. The policy is also used to promote investment in the mineral sector.

The guidelines for implementation of this policy can be found in the Implementation Guidelines for the Broad-Based Socio-Economic Empowerment Charter for the Mining and Minerals Industry, 2018 .

Official source: https://www.gov.za/sites/default/files/gcis_document/201809/41934gon1002.pdf