The new Mining Charter will introduce several important changes to current regulations and South African companies will have twelve months in which to increase their black stakeholder share to 30%, from a …
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Mining in South Africa is no mean feat and oftentimes requires a feat of engineering. However,before there can be boots and excavators on (or under) the ground, a right is required in order toextract the precious metals and minerals that make millions. The Department of Mineral Resources(DMR) is responsible for the granting of mining rights …Web
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empowerment mining companies in the Republic of South Africa, DME, Pretoria. Drake, W .A. & Holsw orth, R.D., 1996, A rma ve ac on and the stalled quest for black progress, University of Illinois ...Web
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THE SUPREME COURT OF APPEAL OF SOUTH AFRICA. JUDGMENT Not Reportable. Case No: 1109/2020 . ... the DDG ignored the fact that its joint venture partner (ARM), was a black company and a shareholder in ARM Platinum which, in turn, held 83% in AMCL. ... The DDG further referred to 17 old order mining rights held …Web
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BUSINESS LIVE / 15 JUNE 2018 - 17:28 / ALLAN SECCOMBE Boards must comprise 50% black South Africans, 20% of which must be black women Past empowerment deals are recognised in the newly released Mining Charter and mining companies have five years in which to top up to 30% ownership, including the …Web
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mining permit, to do small scale mining, or a mining right, to do large scale mining. Mining Permit: A mining permit gives a company or individual permission to mine a small area of land (not more than 1.5 hectares) for a specifiedperiod of up to 2 years. Mining Right:A mining right gives a company or an individual permission toWeb
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Far from fostering a patriotic black capitalist class and a transformed mining industry, the process of cronyism supported by legislated mining policy served the …Web
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Let's take a look at the consequences of this Mining Charter III judgment on the key players within and on the complex mining industry in South Africa. The Legal Status of the Mining Charter . Under Section 100(2) of the MPRDA, the Minister contended that he was empowered to make valid law through the development of the Mining …Web
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resources are the common heritage of all the people of South Africa and the State is the custodian thereof." The "old order" rights remained in force for a specified period of time (one to five years) and the holder of those rights must within that period apply for prospecting and mining rights. Prospecting and mining rightsWeb
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Mining rights are essential to mining operations as they (i) permit the holder to conduct mining operations and extract the named mineral and (ii) give immediate title of the extracted mineral to the mining right holder. ... published the Broad-Based Socio-Economic Empowerment Charter for the South African Mining and Minerals Industry, …Web
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South Africa's mining companies cannot use their mineral rights to evict communities who own the land, the country's highest court said in a judgment described as a "milestone" for the ...Web
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The revised Charter provides that the 30% black ownership of mining assets must comprise of the following: a minimum of 8% of the total issued share capital of the holder (as defined in the MPRDA) shall be issued to black employee share ownership plans (ESOPs) or any similar employee structure schemes. a minimum of 8% of the total …Web
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The state is the custodian of South Africa's mineral and petroleum resources and has a duty to administer these resources for the benefit of all South Africans. As a consequence, an owner of the ...Web
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South Africa ("TRC"), Truth and Reconciliat ion Commission of South Africa Rep ort (Volume 6, Section 2, Chapter 5 and 6) ( 2003) 151. R Hamann & A. Bezuidenhout,' The Mining Industry' in ...Web
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According to the South African environmental justice human rights ... notes that in certain instances coal mining companies with political black-economic empowerment partners have also used these contacts to their advantage when applying for mining applications. Thus, civil society and local community groups have accused the …Web
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In South Africa, a prospecting or a mining right is obtained by applying to the Minister of Mineral Resources and Energy (Minister). The Application must also be lodged simultaneously with the office of the regional manager of the region where the land in question is situated. Applications which have been received in the same day for the same ...Web
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Under Mining Charter III, all mining companies (ie, companies that hold mining rights granted in terms of the MPRDA) are, among other things, required to …Web
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South African mining companies say the 21 September High Court ruling curtailing ministerial powers on mine ownership with …Web
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Meeting report. Mining Charter and job creation for youths: Public Hearings involving Top 10 Mining Companies Chairperson's opening remarks The Chairperson welcomed delegates, Members and the public, and expressed the Portfolio Committee's appreciation that the leadership of the mining companies had accepted the invitation. …Web
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During Apartheid, the mining industry operated without restraint and compromised the ecology, the health of mining workers, and local communities. The lines between the mining industry and government was often unclear with the former influencing government decisions to favour uncontrolled operations. Although new post-Apartheid …Web
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Mtisi et al. (2011) report that Mutoko District produced 121,000 tnes of black granite in 2009 for which it was supposed to be paid US$12.1 million by the mining companies. However, the mining companies paid the District Council in total US$18,400, or 0.015% of the original sum. And this miniscule payment only occurred after a court order.Web
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Cloete, who founded an informal group of mineral rights activists known as the "Mining Fighters," has spent years petitioning the South African government to find a productive way to formalize ...Web
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In the first draft of the current charter it called for a top-up of black ownership to 30% in a year, while the later draft in 2017 gave mining companies five years to increase the levels. For existing mines however, there is no required increase in the final draft. "The removal of the top-up from 26%-30% is important," says Chabana.Web
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A significant source of conflict between communities and mining companies has been the mining policies and practices during the apartheid era in South Africa. This problem is rooted in early legislation regarding mineral rights and mineral development, such as the Native Land Act 27 of 1913 and the South African Development Act 18 of …Web
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Practical application: No top-up requirements for operating mining companies who, at any stage during the existence of the mining right, achieved a minimum of 26% black shareholding but the black shareholders exited prior to 27 September 2018 (commencement of Mining Charter III). 2. Ownership requirement applicable to new …Web
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Black economic empowerment policy and the transfer of equity and mine assets to Black people in the South Africa's mining industry May 2021 South African …Web
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African Rainbow Minerals (ARM) is a leading South African diversified mining and minerals company with long-life, low unit cost operations. ARM mines and beneficiates iron ore, manganese ore, chrome ore, platinum group metals, copper, nickel and coal. ARM has an investment in gold through its shareholding in Harmony.Web
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The Mineral and Petroleum Resources Development Act, Act No. 28 of 2002 (the MPRDA) was promulgated with the aim of distributing mineral wealth more equally among citizens to remedy the injustices of …Web
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Black Mountain Mining. Black Mountain Mining (Pty) Ltd holds Vedanta Zinc International's South African operations, Deeps, Swartberg, and Gamsberg mines. These mines form what is known as the Black Mountain Complex. ... Gamsberg was discovered more than 40 years ago and held undeveloped in the asset portfolios of various mining …Web
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IN SOUTH AFRICA" -P RICHEN- Director Mineral Rights and Title "Mineral Rights" entitle a person or entity explore and produce minerals, rocks, oil and gas found below the …Web
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South African Mining Outlook Remains Bleak Despite New Charter ... These include the requirement for mining companies to maintain black ownership participation rates at 30% throughout the life of the mine and a requirement to pay workers and communities the equivalent of 1% of EBITDA for new mining rights holders in years …Web
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Mining companies which hold mining rights granted in terms of the MPRDA, were required in terms of the Mining Charter 2010, to achieve a minimum target of 26 …Web
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At a glance. Mining rights are held by companies, and the entitlement to a mining right belongs to the company itself, not its shareholders. The case of Limpopo Economic Development Agency v Klopper NO and Others highlighted a dispute over the interpretation of a clause in a mining right, with LEDA asserting a share in the mining …Web
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Mining companies operating in South Africa, including Anglo American (LON:AAL) and Sibanye Gold (JSE:SGL) (NYSE:SBGL), may soon have to increase their black-owned stakes to 30%, from a previous 26 ...Web
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2. BHP Billiton Energy Coal South Africa Ltd A coal mining site. Photo: pixabay, @stafichukanatoly Source: UGC. Parent company: BHP Group Limited Founded: 1851 Headquarters: Melbourne, Australia SA offices: Lesedi Village, Middelburg Rd, Witbank, Emalahleni, 1034, South Africa Website: BHP Billiton was …Web
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[5] Both applicants are well-known mining companies. The first applicant is a wholly owned subsidiary of Anglo Platinum Mines Limited while the second applicant is a black owned company that has entered into a 50:50% joint venture agreement with the first applicant, to operate the Modikwa Platinum Mine in Sekhukhuneland.Web
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