Mining is the key "Flywheel" of the RSA Economy. ... already empowers the Minister to retain any portion of the financial provision for latent and/or residual environmental impact, hence this amendments are not necessary. ... There is already provision in s5(3)(d) of the MPRDA for water uses relating to prospecting, mining, exploration or ...
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mining financial provision mprda. Pitfalls Arising From The Financial Provision For Mining Rehabilitation mining financial provision mprda,Mining companies generally make financial provision for rehabilitation by virtue of rehabilitation trusts or financial guarantees through a financial institution or lately, insurance polici Although a deduction can be claimed for contributions to a ...
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Managing MPRDA Compliance Obligations Using Landfolio Challenge. Companies mining or prospecting in South Africa must comply with the Mineral and Petroleum Resources Development Act (MPRDA) and corresponding regulatory obligations. The act makes provision for equitable access to and sustainable development of South Africa's mineral and petroleum resources.
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OF THE QUANTUM OF CLOSURERELATED FINANCIAL PROVISION PROVIDED BY A MINE. ii January 2005 Department of Minerals and Energy ... and 54 promulgated in terms of the MPRDA deal with financial provision for ... relate to financial provision for the mining .
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A holder of a mining right has, subject to compliance with the requirements of section 24 of the MPRDA, the exclusive right to apply for and be granted a renewal of the mining right in respect of the mineral and mining area to which existing mining right relates.
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The purpose of the Mineral and Petroleum Resources Development Act, 2002, (Act No 28 of 2002) (MPRDA) is amongst others to transform the mining and production industries. In order to ensure effective transformation in this regard, the Act requires the submission of the Social and Labour Plan as a prerequisite for the granting of mining or ...
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The financial provision for the environmental rehabilitation and closure of any mine and its associated mining operations forms an integral part of the MPRDA, and is addressed in Sections 41(1), 41(2), 41(3) and 45 of the Act.
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On 20 November 2015 in Government Gazette 39425 Notice Number GN R1147 the Minister of Environmental Affairs published the Regulations Pertaining to Financial Provision for Prospecting, Mining, Exploration and Production Operations (the Financial Provisioning Regulations, 2015) which came into effect on the date of publication in the Gazette.
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Recent changes to the laws on the financial provision for closure and rehabilitation of mining operations represent a major step in enhancing the principle of sustainable development and giving effect to the duty to rehabilitate environmental degradation, but are they affordable in the current climate?
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2015 Financial Provision Regulations, and Preexisting Rehabilitation Provisions. by Clinton Pavlovic. To prospect or mine for minerals, or to explore for or produce petroleum resources, a person must have have a licence granted in terms of the MPRDA (the principle act governing mining and production rights) ...
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Regulations Pertaining to the Financial Provision for Prospecting Exploration, Mining or Production Operations (Financial Provisioning ... n Section 41 of the MPRDA requires an applicant for a prospecting ... provision, the holder of a mining or prospecting right must assess and
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DMR clarifies its mine rehabilitation financial provision process. October 25, 2016. 0. ... which had been placed under business rescue posing considerable risk to the mining sector due to significant job losses, Optimum applied in terms of section 11 of the Mineral and Petroleum Resources Development Act (MPRDA), to cede its mining right to ...
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The nature of prospecting and mining rights under the MPRDA ... with the mining work programme, (ii) the applicant has access to financial resources, ... of any provision of the MPRDA; and (ix) that the granting of the mining right will further the...
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REGULATIONS PERTAINING TO THE FINANCIAL PROVISION FOR PROSPECTING, EXPLORATION, MINING OR PRODUCTION OPERATIONS I, Bomo Edith Edna Molewa, Minister of Environmental Affairs, hereby make regulations pertaining to the financial provision for prospecting, exploration, mining or production operations under section
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The publication of the Financial Provision Regulations for Prospecting, Exploration, Mining or Production Operations by the Minister of Environmental Affairs on 20 November 2015 (2015 Regulations) was met with significant resistance, with the Chamber of Mines noting that it would have a "crippling effect" on the mining sector.
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Mining Closure and Rehabilitation Plan ... The applicant for a mining permit/right must make prescribed financial provision for the rehabilitation or ... As with NEMA and NWA, there is a provision in the MPRDA (Section 45) for the DMR to direct an operation to investigate, evaluate, assess and report on the impact of any pollution or ...
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An applicant for an environmental authorisation relating to prospecting, mining, exploration, production or related activities on a prospecting, mining, exploration or production area must make the potential prescribed financial provision for the rehabilitation, management and closure of environmental impacts.
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Financial provision for environmental rehabilitation and closure requirements of mining operations forms an integral part of the MPRDA. Section 41 of the MPRDA and regulations 53 and 54 promulgated in terms of the MPRDA deal with financial provision for mine rehabilitation and closure.
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