File image: President Cyril Ramaphosa. (IOL).

CAPE TOWN - President Cyril Ramaphosa said that the new rules which govern black ownership of SA’s mining industry will be finalised “very soon”. 

The president was speaking at a Japan-Africa trade forum in Johannesburg, reports Bloomberg. He spoke of Africa as an industrialised country which hopes to attract invest well over R1.2 trillion over the next 5 years. 

Ramaphosa also reportedly said that a deadline has been set for the new Mining Charter. 

In other mining news, in March this year, Mineral resources minister Gwede Mantashe outlined immediate plans and priorities regarding the Department and the mining industry at a press briefing. 

The minister met with the Chamber of Mines and unions where the charter was discussed and some changes proposed.

Mantashe’s briefing was billed to set the record straight and clarify which changes his department would be proposing for the charter and whether or not the Chamber of Mines finds it satisfactory.

Mantashe told reporters that there was no consultation which led to a trust deficit and that wish is to have the mining charter finalised in the first half of the year. 

"Our view as a department was that we cannot start if there is nothing that has happened. Here's Mining Charter 3. Yes, there's disagreement. Here it is, let's discuss it. If we must amend or correct certain aspects we'll do so...."

READ MORE: Mantashe briefs media on mining charter

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- BUSINESS REPORT ONLINE