South Africa has decided to review laws of the Mineral and Petroleum Resources Development Act, MPRDA, with the aim of bringing in more investors. Amended laws are expected to be passed in December Mosebenzi Zwane, Minister of Mineral Resources said on Thursday.
“We are continuing to support the parliamentary processes towards our new target date of December 2017 for promulgation. This is not a Department of Mineral Resources goal, but a national one,” Zwane said in a speech to a conference in Australia.
South Africa’s mining sector is gradually recovering from the downturn that hit platinum, iron ore and coal exports, although regulatory uncertainty remains a concern, analysts said.
Amendments to the MPRDA bill were first passed in 2014 but was rejected by President Jacob Zuma saying that it is unconstitutional because it elevated the country’s Mining Charter to the status of legislation.
“The 2017 Mining Charter is law, and all right-holders in South Africa are expected to implement it,” Zwane said.
