Broad-Based Black Economic Empowerment Act, 2003 (Act No. 53 of 2003)

Codes of Good Practice on Black Economic Empowerment

Mining Sector Charter

Amendment of the Broad-Based Socio-Economic Empowerment Charter for the South African Mining and Minerals Industry

2. Elements of the Mining Charter

2.5 Human Resource Development
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The mining industry is knowledge based and thus hinges on human resource development, constituting an integral part of social transformation at workplace and sustainable growth. To achieve this objective, the mining industry must:

 

•Invest a percentage of annual payroll (as per relevant legislation) in essential skills development activities reflective of the demographics, but excluding the mandatory skills levy, including support for South African based research and development initiatives intended to develop solutions in exploration, mining, processing, technology efficiency (energy and water use in mining), beneficiation as well as environmental conservation and rehabilitation; as follows:

 

•Target for 2010 = 3%;

 

•Target for 2011 = 3.5%;

 

•Target for 2012 = 4%;

 

•Target for 2013 = 4.5%;

 

•Target for 2014 = 5%.