Rethinking black ownership models in SA mines
Genesis was asked by a global mining company to conceptualise a new future for black equity ownership in the South African mining sector.
The main conclusion was that the current approach to black equity ownership, as encapsulated in the Mining Charter system, is not working for BEE investors, for mining communities, for black staff, for mining companies, for poor communities, or for South Africa’s greater transformation project.
The work proposed new principles, objectives and better approaches to improve black ownership in the sector. The paper was presented to government as fresh ideas on black ownership in the mining sector.