In a statement, the union welcomed the introduction of a 30 percent black ownership target for all mines.
"Even though the Department and the Minister did not implement the incremental targets as per our submissions, thus industry achieving 35% as a minimum target by 2022. We do nonetheless appreciate the increase from the initial 26% to the 30% minimum BEE shareholding in the industry," NUM said.
NUM said it was however disappointed that Mineral Resources Minister Mosebenzi Zwane had not increased economic benefit for mineworkers and mining communities to 10 percent.
"Unfortunately to our disappointment on this aspect the Minister limited employees and communities ownership to 8% each on the designated 30% BEE ownership in mining companies, thus BEE Entrepreneurs and current institutional owners remain with 84% (with a minimum of 14% in the hands of black entrepreneurs)."
The Union slammed the Chamber of Mines of South Africa's intention to interdict government from implementing the charter, saying this was "regrettable and regressive".
"Especially in the light of the Chamber of Mines own admission that they have far achieved the contemplated 30% ownership target, this leaves us with this question: in whose interest is the Chamber opposing transformation in the mining industry?
"They might be taking the government to court, but from were we are standing, they are against South Africans benefiting and sharing in the profits emanating from our mineral wealth." NUM said it would mobilise communities against mining houses opposed to the reviewed charter.