When Roman historian Suetonius described Emperor Nero as “fiddling while Rome burns” he could well have been referring to minister of mineral resources Mosebenzi Zwane, whose recent actions smack of political tinkering.
A few high-profile moves of late have succeeded in widening the trust deficit in the mining sector, with the department of mineral resources (DMR) and minister of mineral resources, Mosebenzi Zwane, in one corner, and industry and stakeholders in the other.
First came the publication of the controversial Mining Charter 3, on 15 June. This upped ownership targets for historically disadvantaged individuals to 30%, among other changes. It created more onerous ownership requirements for suppliers to the industry and also demanded that research and development be focused locally, ideally at previously disadvantaged universities. Transformation numbers within management have been increased, as have targets for previously disadvantaged employees, disabled people and women across all levels.
The goals behind these moves are, make no mistake, laudable. But imposing a three-year time frame in which to achieve complicated targets is commercially and practically short-sighted.
Lack of consultation
この記事は Finweek English の 10 August 2017 版に掲載されています。
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7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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