South African Govt to overhaul mining laws

South Africa's mines milumwana copper mine zambianister Susan Shabangu on Tuesday said she would immediately review the country's mining and minerals legislation. This follows reports of growing investor concern over the country's mining regime following events that saw prospecting rights and rights over certain minerals awarded to third parties.

"I have noted with increasing concern the growing negative sentiment regarding South Africa's mining sector, specifically in relation to our regulatory framework," said Shabangu. "There is no doubt that clouds have been gathering over our country's mining reputation and I want to reassure all our stakeholders that South Africa is indeed a mining jurisdiction worthy of future investment," she said. The Department of Mineral Resources expects this process to take six months to complete. The minister said it had come to her attention that the Mineral and Petroleum Resources Development Act (MPRDA) contained a number of ambiguities that needed to be clarified...