Mine Charter axe falls on mining stocks, renders sector ‘uninvestable’

The imposition of a contentious new Mining Charter by Mineral Resources Minister Mosebenzi Zwane on Thursday slashed the value of JSE-listed mining stocks R50.69bn, making the sector “uninvestable” and subject to a spate of legal challenges.
Far from creating the sought-after certainty and investor-friendly policy document guiding racial transformation of the mining industry many had hoped for, the third version of the charter created anger, confusion and uncertainty, with foreign investors warn…

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