The High Court of South Africa has just set aside various clauses within the 2018 Mining Charter , one of which had been regarded by the Minerals Council as highly contentious, namely the the issue of “once empowered, always empowered”.The previous clause had been a particularly disliked, as it sought to maintain BEE partnership, regardless of whether an original BEE partner had disinvested, making new exploration and mining projects unrealistically expensive and a huge disincentive to foreign investment. The new ruling essentially confirms that a company, once empowered, is always empowered.
Also there is a joint delegation from US, UK, Germany and France, arriving shortly in South Africa to discuss the transition for Coal to Gas in order to reduce carbon emissions.
Both these pieces of news are very positive for companies such as Kinetiko (KKO) who operate as a foreign explorer in South Africa.
