According to the 2022 Budget Review, in 2022, the National Treasury will introduce measures to help address the theft of steel and copper from infrastructure, after engaging with relevant departments and stakeholders. These measures will include:
- Working with the Department of Trade, Industry and Competition to introduce licensing – of companies and individuals – for the selling, buying or trading of all scrap steel, copper and related products.
- Enacting additional anti‐money‐laundering measures, including customer due diligence and tracking the origins of products, to apply to steel, copper and other metals, and precious stones – and prohibiting cash transactions related to steel, copper and other metals, and precious stones, in favour of credit card payments and electronic transactions.
- Strengthening customs reporting, controls and other measures for exports and imports of these items – and creating criminal and administrative penalties for non‐compliance with regulations.