Yes, good news> very confident we will get the ML in 2019
The 2017 charter required “free-carried interests” of 5% for all workers groups. In the reworking of the document, the “free” has been removed, and the option of paying “equity-equivalent” benefits to local communities has been added.
Finally, the trickle dividend equal to 1% of earnings before interest, tax, depreciation and amortization (EBITDA) has been removed. This means that mining companies will have one less obligation to meet, as part of a larger move to reduce demands on the industry to make it more attractive.
“That is key, because what we’re realising, certainly in a South African context a bit now, we really do need an exploration boom, so putting more red-tape on it is not going to be stimulating exploration,” says Chabana. “We need to resuscitate exploration in South Africa.”
WWI Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held
