[miningmx.com] – THE mining charter was the only empowerment code that failed to conform to the trade and industry’s (DTI’s) revised broad-based black economic empowerment (BBBEE) act, said the Black Management Forum (BMF).
The DTI allowed a 60-day period for public commentary on its revised BBBEE which calls for the formation of a commission that would monitor progress made by industries in implementation of BBBEE.
“We note with disappointment the fact that mining, a critical sector of the economy that employs 500,000 people, is the only industry that has made no attempt to align with the BEE Act and that the department of trade and industry has not publicly taken steps to address that,” Sapa quoted the BMF to have said on Sunday.
None of the mining companies has a BEE certificate, said the BMF. “Mining is the only sector of the economy where there is no requirement for independent verification of BBBEE contributions.
“It is the only sector that has made no attempt to align with the BEE Act,” it said.
The organisation urged government to invest resources and capacity in monitoring the implementation of BBBEE on an ongoing basis, Sapa said.
“The proposed BEE Commission should have the resources and capacity to monitor and evaluate the implementation of BBBEE in the public and private sector on an ongoing basis.”
The commission should also publish an annual report on the state of BBBEE within the public and private sectors, Sapa quoted the BMF to have said.
The Johannesburg Stock Exchange (JSE) should also make it mandatory and part of listing requirements for companies to report on BBBEE implementation, it said.
