Regulatory certainty critical

Without regulatory
certainty South Africa’s
mining sector will remain
under pressure, attracting
little or no
investment.
According
to Mike
Teke,
president of
the Chamber
of Mines, the
first step in
achieving
any certainty
will
require the
finalisation
of the
Mineral and
Petroleum
Resources
Development Act
(MPRDA) Amendment
Bill.
This much-debated piece
of legislation was referred
back to Parliament by
President Jacob Zuma in
2015 where it spent nearly
two years before being
passed in November last
year. It is currently with
the National Council of
Provinces (NCOP) for their
go-ahead.
Assuming
the NCOP
approves the
Bill it will be
returned to
the president’s
desk for assent
and then
gazetted as a
final step.
“Industry
requires
certainty
and clarity
over this
legislation,”
said Teke.
“We are competing with
jurisdictions around
the world. The only way
we stand a chance is to
provide a clear policy and
regulatory environment.”
Teke welcomed an
announcement by the
minister of mineral
resources, Mosebenzi
Zwane, that the bill would
be finalised by no later
than June and that the
Mining Charter would be
gazetted by March, saying
that industry had a right
to know the content and
status of the process.
INSERT
The first step
will require the
finalisation of
the Mineral and
Petroleum Resources
Development Act
Amendment Bill.
– Mike Teke