Mineral and Petroleum Amendment Bill approved
Cabinet approves the Mineral and Petroleum Resources Development Amendment Bill.
By Paul Vecchiatto
Cabinet has approved the Mineral and Petroleum Resources Development Amendment Bill.
Speaking at Thursday’s post-Cabinet briefing Minister in the Presidency Collins Chabane said the draft law would give effect to Section 24 of the Constitution by ensuring the nation’s minerals were developed in an orderly manner while promoting justifiable social and economic development.
The proposed law would make provision for mineral rights to fall within the insolvent estate in the event that a company was liquidated.
It would also strengthen provisions relating to cession‚ transfer and encumbrance of rights in order to permit the partitioning of rights and it would regulate the exploitation of associated minerals.
Chabane said the bill would also streamline the administrative processes in relation to the regulation of the mining environment management function.
The bill would also make provision for the implementation of the approved beneficiation strategy through which strategic minerals can be processed locally for a higher value.