Government aims to finalise Mining Charter, MPRDA by year end – Oliphant

DMR unlikely to extend consultation period for the draft Mining Charter.
Deputy Minister of Mineral Resources Godfrey Oliphant

The Department of Mineral Resources feels as though it has “sufficiently consulted” on the draft Mining Charter and is unlikely to extend the consultation period any further, says Deputy Minister of Mineral Resources Godfrey Oliphant.

“We’d love to stick to the deadlines so that there is certainty because we don’t want to keep the industry guessing all the time. We haven’t discussed it internally as to whether there might be an extension. It is unlikely, but if there is a need the minister can make that determination,” Oliphant told reporters on the sidelines of the Junior Mining Indaba.

The 30-day public consultation period, following the surprise gazetting of the draft Mining Charter in mid-April, drew to a close at the end of May 2016. Oliphant said the department would now require 30 days to review input and submissions from industry stakeholders. He said Mines Minister Mosebenzi Zwane is expected to publish the final charter by year-end.

The deputy minister said amendments to the Mineral and Petroleum Resources Development Act are also expected to be finalised by year-end.

“We have made a lot of progress. Parliament, and the ANC obviously, has consulted in line with what the president and the law requires, so we are targeting to finish this law by the end of this year,” he said.

While Parliament is in recess until the end of the local government elections, set to take place on August 3 2016, Oliphant said the goal remains to finalise the law in November.

VIDEOS

COMMENTS   0

You must be signed in and an Insider Gold subscriber to comment.

SUBSCRIBE NOW SIGN IN

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR
BTC / USD

SEARCH COMPANIES
Enter company name or share code:

ECONOMIC DATA  

  CPIThe Consumer Price Index (CPI) measures monthly changes in prices for a range of consumer products Oct 2021 5.00%
  CPI ex OERThe Consumer Price Index excluding Owners’ Equivalent Rent (CPI ex OER) measures monthly changes in prices for a range of consumer products excluding Owners’ equivalent rent that measures changes in the cost of owner-occupied housing Oct 2021 5.50%
  RepoThe rate at which the Reserve Bank lends money to the country’s commercial banks and set by the Reserve Bank’s Monetary Policy Committee. Nov 2021 3.75%
  Prime lendingThe Prime Lending Rate is the rate of interest that commercial banks will charge their clients when issuing a loan (home loan or vehicle finance) Nov 2021 7.00%
INSIDER SUBSCRIPTION APP VIDEOS RADIO / LISTEN LIVE SHOP OFFERS WEBINARS NEWSLETTERS TRENDING

Follow us:

Search Articles:
Click a Company: