[miningmx.com] – CHAMBER Of Mines of South Africa executive, Vusi Mabena, said it made sense for the ‘once-empowered, always-empowered’ principle to apply in the mining sector because it was cyclical.
In an article in BDLive, Mabena added that the issue of whether an empowerment deal cohered in perpetuity became “a heated debate” with the government suggesting that the principle may not be accepted by the state.
“I am not sure if the (department) has a written policy on the “once empowered, always empowered’ principle, but I am aware that it becomes a heated debate each time the (department) does its audits on the progress made by companies on the Mining Charter, especially when it comes to the ownership pillar,” Mabena told BDLive.
Mabena is the senior executive in charge of transformation and stakeholder relations at the Chamber of Mines.
“The mining industry is highly cyclical … For this reason it makes sense for the industry to support the “once empowered, always empowered’ principle,” he said.
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