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So. Africa: Mining companies oppose govt. proposed community revenue share; NGOs say proposal fair for communities

Author: Paul Vecchiatto, Bloomberg (USA), Published on: 29 August 2016

"S. Africa, Mines Fight Over Proposed Community Revenue Share", 29 Aug 2016

South Africa’s biggest mining companies are opposed to a government proposal that 1 percent of their annual revenue be spent on developing communities associated with their operations and have countered with suggestions that they instead pay out a share of profit. The Chamber of Mines, which represents companies including Glencore Plc, Anglo American Plc and AngloGold Ashanti Ltd., is in discussions with the Department of Mineral Resources and labor unions over a review of the...mining charter...The proposal, if enacted, would require that the money be spent on communities near the mines as well as those from where they draw their labor. While mining companies already have to submit social and labor plans, detailing their initiatives for community development, to keep their operating licenses legislation governing those is flawed and doesn’t make them accountable to the intended beneficiaries, the Johannesburg-based Centre for Applied Legal Studies said in draft report in February. "If they miss this opportunity to start to be fair with communities, they’re going to face a revolt," John Capel, executive director of the Bench Marks Foundation, a corporate social responsibility monitoring organization, said.


Read the full post here

Related companies: Anglo American AngloGold Ashanti Glencore