Latest news with #CriticalMineralsandMetalsStrategy
IOL News
29-05-2025
- Business
- IOL News
Criticism of South Africa's new Mineral Resources Bill: A disaster in the making?
Sharp criticisms have emerged over the structure of the new Mineral Resources Bill that was gazetted for public comment last week by Minister of Mineral and Petroleum Resources Gwede Mantashe Image: Reuters Sharp criticisms have emerged over the structure of the new Mineral Resources Bill that was gazetted for public comment last week by Minister of Mineral and Petroleum Resources Gwede Mantashe with the DA on Wednesday saying, "The new minerals bill is a disaster in the making." This comes hot on the heels of the Minerals Council on Tuesday saying its contributions were not incorporated. Mantashe and other government officials hope that the Mineral Resources Development Bill and the Critical Minerals and Metals Strategy blueprint will help to shore up mineral exploration, spearhead SA's production of critical minerals and attract international investment into the mining sector. 'The bill is poorly thought out. It is contradictory and unclear in several places. It grants new powers to the Minister to rule the industry according to his own whim,' said James Lorimer, the DA's spokesperson on mining issues. He further said the bill will 'end the already tottering case for foreign investment' in the mining sector. Among the stipulations that the DA is opposed to is a provision requiring ministerial approval for the change of control of any listed company holding a mining licence. Lorimer also voiced out concerns over a 'vague requirement that certain minerals would have to be made available for local beneficiation' adding that there was no clarity over 'who would do the beneficiation or at what price' mines would have to make the minerals available. Mzila Mthenjane, the CEO of the Minerals Council, said the published bill 'does not reflect inputs' from the grouping of SA's mining sector players. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading 'The draft bill is not altogether optimal,' said Mthenjane, adding that an industry preference seeking that the legislation 'specifically exclude prospecting companies from empowerment' had not been included. 'Exploration is the highest risk part of the mineral value chain and imposes an unnecessary burden on prospectors who must sink every rand into drilling and data interpretation. Yet in this draft bill, none of that is included,' he explained. Lili Nupen, a mining policy expert who founded Johannesburg-based NSDV, told Business Report though that the bill's effectiveness will be hinged on how it is implemented. 'NSDV Law is of the view that the South African mining industry stands to benefit from the implementation of the Mineral Resources Development Bill and the Critical Minerals Strategy, if they are executed effectively and supported by consistent policy implementation,' said Nupen. She added that the Mineral Resources Bill was supposed to be representative of the South African government's recognition of investor concerns and, therefore, should be a mechanism of reforming the legal framework that governs the mining sector to address concerns. 'For example, the alignment of the mining and environmental regulatory timeframes and processes, as well as their acceleration, is directly aimed at addressing current concerns regarding the backlog of the processing and authorisation of mining projects. Similarly, the Critical Minerals Strategy provides much-needed clarity on South Africa's mineral priorities, which could guide investment decisions and support coordinated development efforts.' South Africa, a major mining hub in the region, has identified platinum, manganese, iron ore, coal, and chrome ore as 'high-critical minerals' under the new Critical Minerals and Metals Strategy.
Eyewitness News
21-05-2025
- Business
- Eyewitness News
Mantashe says deal on SA minerals unlikely to be on the table as Ramaphosa meets Trump
Nokukhanya Mntambo 21 May 2025 | 6:45 Gwede Mantashe Cyril Ramaphosa Donald Trump Minister of Mineral Resources and Energy, Gwede Mantashe. Picture: @GovernmentZA/X JOHANNESBURG - Minerals and Petroleum Resources Minister, Gwede Mantashe, said a deal on the country's critical minerals is unlikely to be on the table at the Oval Office when President Cyril Ramaphosa meets with his United States (US) counterpart, Donald Trump. Mantashe, who is also the acting president in Ramaphosa's absence, briefed the media on the Critical Minerals and Metals Strategy in Cape Town on Tuesday. This is part of what the government says is a broader tactic to tighten the policy framework for the critical minerals sector and streamline regulations. Africa is said to hold 30% of the world's critical mineral reserves, such as manganese, graphite, nickel, lithium and copper. The US relies on South African metals and minerals that are essential for its economy and national security, making metals and minerals the biggest South African exports to the US. According to the Institute for Global Dialogue, in 2021, platinum group metals were almost half of South Africa's exports to the US, and nearly 100% of the US's global chromium supply. When Trump slapped the world with higher import tariffs, he put gold, platinum group metals, copper, and zinc on a list of exemptions. Some economists said SA's minerals could be the Trump card the country needs at the negotiating table when diplomats talk trade and race policies in Washington. But Mantashe said otherwise. 'I would imagine that the US would try to put the issue of minerals on the table, but I doubt if the South African delegation will commit South Africa on its minerals. They may have issues, but that will have to come back for a discussion in the country. 'Any decision on that front will have to involve us, it will have to involve the Mineral Council, labour, and then we can make proposals. But our emphasis remains, our critical minerals must be enriched close to the place of production and that delegation in the US understands that fully,' added Mantashe. That aside, there are also semantics involved with calls for a new definition on critical minerals - one that differentiates between what is genuinely vital to a country, and what is just something of importance. ALSO READ:
