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

Codes of Good Practice on Black Economic Empowerment

Mining Sector Charter

Scorecard for the Broad Based Socio-Economic Empowerment Charter for the South African Mining Industry

4.14 Consultation, Monitoring, Evaluation and Reporting

 

It is recognised that the achievement of the objectives set out herein entails an ongoing process.

 

Companies undertake to report on an annual basis their progress towards achieving their commitments, with these annual reports verified by their external auditors. A review mechanism will be established which again provides flexibility to the company commitments.

 

Parties hereto agree to participate in annual forums for the following purposes:

 

• Monitoring progress in the implementation of plans;

 

• Developing new strategies as needs are identified;

 

• Ongoing government/industry interaction in respect of these objectives;

 

• Developing strategies for intervention where hurdles are encountered;

 

• Exchanging experiences, problems and creative solutions;

 

• Arriving at joint decisions;

 

• Reviewing this Charter if required.