Vote of No confidence for Mosebenzi Zwane

The delegates at the Jo’burg Indaba mining conference have expressed a no confidence vote on the current Mineral Resources Minister, Zwane and would like to have a new one with immediate effect.

The delegates represents companies like Anglo American, Harmony Gold, Sibanye Gold and audit firms like PWC as well as KPMG. The delegates also consisted of financial services groups and JP Morgan and Standard Bank. These delegates cast their votes electronically ahead of the conference.

The question for call of action from by the ANC-led government was put on the table. The delegates wished to know what the government intended on doing for the mining industry.

41% of the delegates called for a new minister, while 26.6% called for the scrapping of the Mining Charter and just 4.1% called for the mineral and Petroleum Resources Development Bill to be passed.

There were of course other voting options that included; making the industry pay for legacies and renegotiations of the charter. These however did not gain much popularity.

The vote come amid a stand off between Mineral Resources Minister Mosebenzi Zwane and mining companies over the Mining Charter which the industry says threatens their survival.

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