54
Views
0
CrossRef citations to date
0
Altmetric
Original Articles

New South African Mineral and Petroleum Resources Development Act: Shaping a New Investment Environment to Reflect a Diverse Society

Pages 121-147 | Published online: 08 Jun 2015

  • E Axelson, Vasco da Gama, The Diary of his Travels through African Waters 1497–1499 (Stephen Phillips (PTY) Ltd, Somerset West, South Africa, 1998).
  • J M Otto, Global Mining Taxation Comparative Study (Institute for Global Resources Policy and Management, Colorado School of Mines, Golden, Colorado, USA, September 1997), p 94 plus country summaries and spreadsheets.
  • J E Tilton, Mineral Endowment, Public Policy and Competitiveness. Resources Policy (Butterworth-Heinemann Limited, 1992), pp 237–249.
  • D Barberis, Negotiating Mining Agreements—Past. Present and Future Trends (Kluwer Law International, 1998). See also Mining Journal, Vol 332, no 8517, London, 5 February 1999, p 260.
  • Constitution of the Republic of South Africa Act No 108 of 1996.
  • F T Cawood and R C A Minnitt, ‘A Historical Perspective on the Economics of the Ownership of Mineral Rights’ (1998) 98(7) Journal of the South African Institute of Mining and Metallurgy 369–376.
  • Ibid.
  • Reader's Digest, Illustrated history of South Africa: The real story (Expanded 3rd edn) (The Reader's Digest Association South Africa (Pty) Ltd, 1995), p 559. Original text available from www.anc.org.za/ancdocs/history/charter.html, accessed on 21 June 2004.
  • See n 3 above.
  • White Paper on a Minerals and Mining Policy for South Africa (Department of Minerals and Energy, Pretoria, October 1998).
  • Government Gazette Vol 426 No 21840 of 18 December 2000. Republic of South Africa, Pretoria.
  • Sources: World Bank, World development indicators 2001 (The World Bank, Washington DC, USA), p 396 and Statistics South Africa, Measuring rural development: Baseline statistics for the integrated sustainable rural development strategy (Statistics South Africa, Pretoria, South Africa, 2002), p 145.
  • An aspect of the investment process that is not always given sufficient attention is the availability and accessibility of geological and other mineral resource information to first-time investors. The value of providing an organised geographical information system for the prospective investor is not sufficiently appreciated by governments. During the administration of concessions, the state gathers a wealth of information. This information should be available to investors, in order to avoid duplication of exploration effort and wasting exploration funds (M A Von Below, ‘Policy Options for the Future South African Mining Industry—Implications for Investors’, Proceedings of a Seminar hosted by Rice Renaldi & Company (Johannesburg, 21 October 1992). Minnitt and Cawood (1999) argued that the efficient management of mineral resource information and optimal access to land would only be realised when there was access to information. They proposed an information system that integrated resource, economic, geographical, administrative and land information in a single system and referred to it as the REGAL system (R C A Minnitt and F T Cawood, ‘Mineral Rights—Information as an Alternative to Taxation’ (1999) 99(6) Journal of the South African Institute of Mining and Metallurgy 341–351).
  • Linda Celliers, ‘A new age for mining’, Acumen insight into South African Business, Issue No 7, 2002 (Cape Town: Johnnic Publishing Ltd), pp 31, 32.
  • These permits are legal tenemants intended to: firstly, simplify the regime for small-scale mining; secondly, control the environmental impact and thirdly, ensure that communities who own the land or had control over minerals in the past, continue to benefit.
  • These independent states were Transkei, Venda, Bophuthatswana and Ciskei (TBVC States). The Mineral and Energy Laws Rationalisation Act No 47 of 1994 repealed previous mineral laws of the former TBVC States and self-governing territories. As a consequence, the 1991 Minerals Act was made applicable throughout South Africa.
  • Mineral and Petroleum Royalty Bill (10 March 2003): Minister of Finance. Republic of South Africa, Pretoria.
  • F T Cawood, Determining the optimal rent for South African mineral resources (PhD Thesis, University of the Witwatersrand. Johannesburg, August 1999). p 221 (updated in 2001).
  • P Crowley, ‘Asia Pacific Resource Development—Exploration and Mining Policy Directions’, Proceedings of the Minerals and Energy Forum Specialists Group Meeting held in Beijing (China. March 1994), p 4.
  • Countries originally included were Argentina, Chile, Ghana, Indonesia, Mexico and Peru (Cawood, 1999, n 11 above). The CIF was updated in 2001, which study added Brazil to the framework.
  • Government Gazette No 26275 of 23 April 2004. Available from www.dme.gov.za accessed through a search for ‘gazette’, 21 June 2004.
  • J Coetzee, ‘New Minerals Bill—The road ahead’. Business Day (South Africa): Business report, 13 September 2002, p 9.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.