8 February 2016

South Africa: Zwane - Regulatory Certainty Top Priority for Mining

The South African government is determined to speed up regulatory and policy certainty in the mining sector, Mineral Resources Minister Mosebenzi Zwane said on Monday.

The industry had raised concerns after the department delayed the submission of its reworked bill of the Mineral and Petroleum Resources Development Act to deal with various "procedural" issues, but Zwane said it will be tabled in 2016.

"We have prioritised the finalisation of the bill as a matter of urgency," he said at the Investing in African Mining Indaba in Cape Town. "Our stakeholders need regulatory certainty, so we need to close this chapter," he said.

"Government will create an enabling environment and ease of doing business in the country," he said.

Zwane said he has interacted with many leading mining CEOs leading up to Mining Indaba, offering them an open door policy to deal with issues of investment risk, regulatory policy and the transformation of the industry.

He said mining companies' biggest issue was over regulatory certainty, which he assured would be clarified through the tabling of the amendment bill in Parliament.

Zwane also indicated that the Mining Charter, which will be completed in March, was an "important transformation tool to restore the dignity of mine workers".

"We should collectively ensure all the people of South Africa benefit from mineral resources of the country," he said.

Godfrey Oliphant, deputy minister mineral resources, told media that the bill was pulled back to deal with domestic and international issues.

He said procedural issues had not been dealt with sufficiently. For example, he said the house of traditional leaders had not been consulted on customary law relating to mining.

Oliphant said it also needed to look deeper into how the law will impact international obligations, as well as the price relating to beneficiation. "It must add value to the product," he said.

"The current bill is a solid piece of legislation, which was tabled 10 years ago. "The amendments to the bill result from the lessons we have learnt over this time," he said.

Source: Fin24

South Africa

#LifeEsidimeni - What Qedani Mahlangu's Testimony May Mean for David Makhura

Accusations fly as the embattled former health MEC finally testifies at the ongoing arbitration hearings. Read more »

Copyright © 2016 News24Wire. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 600 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.