File: Minister of Mineral Resources, Mosebenzi Joseph Zwane.
JOHANNESBURG - Minerals Resources Minister Mosebenzi Zwane says the objectives of the mining charter are achievable.
He told the Black Business Council on Friday that the charter should be government’s blueprint for driving radical economic transformation.
It was time people stopped using the phrase without implementing crucial policies to actually change the economy, Zwane said.
The Chamber of Mines is challenging the introduction of the new charter, claiming it will kill investment and shrink an already ailing industry.
But, Zwane is adamant that 30 percent of all mining operations in South Africa will be black-owned in the near future.
"We will take pain, business will take pain and our people will take pain. If you look at China nowadays – some generations took pain in building the economy of China."
Plans are afoot in other government agencies to ensure greater black representation in the ownership of the health and retail sectors.
National Empowerment Fund CEO Philisiwe Mthethwa said: "In these sectors of the economy there are no black players. So we are saying let's change the patterns of ownerships in these sectors. Because they still remain some of the most untransformed sectors of the economy."
If the mining charter survives in its current form, it may provide the political will for more drastic action elsewhere in the economy.
The court challenge against it will be heard in September.