On 20 November 2015, the National Environmental Management Act No. 107 of 1998 ("NEMA") "Financial Provisioning Regulations, 2015″ GNR1147 GG 39425 ("2015 Regulations") were promulgated, resulting in a significant shift of thinking from the longstanding 'simple' Regulation 53 and 54 process, contained in the Mineral and …
Introducing a definition for "decommissioning", which has, to date, not been defined under the MPRDA, National Environmental Management Act 107 of 1998 ... The NEMLA Bill proposes to insert specific provisions in respect of financial provision for mining in NEMA, which will need to align with the financial provision regulatory regime ...
Under the MPRDA, mining and production rights are governed by state permits. They depend on extracting resources within a specified period of time (not more than 30 years), which prevents the rights holder from sitting on mineral resources without developing them ("sterilising" the mineral right). ... Various provisions, including Section ...
the quantum of the financial provision, required for rehabilitation, closure and ongoing post-closure management. The quantum was to be determined in accordance with the 2005 DMR Guideline (Guideline Document for the Evaluation of the Quantum of Closure Related Financial Provision Provided by a Mine). FINANCIAL PROVISION FOR …
permit in terms of the MPRDA; •Financial Provision, at any given time, equal to the sum of the actual costs of ... Right Type Cash Guarantees Trust Funds Total Provision Mining & Prospecting 3 150 522 530.22 (3,1 billion) 66 933 963 907,15 (66,9 billion) 24 583 156 461,41 (24,5 billion) 92 734 730 462,54
The MPRDA was amended by the Minerals and Petroleum Resources Development Amendment Act 49 of 2008, but be sure to read the two proclamations (Proclamation No. 14 of 2013 and Proclamation No. 17 of 2013) that brought the 2008 Amendment Act into effect, and suspended some of its provisions.Therefore, notwithstanding the coming into force …
The publication of the Financial Provision Regulations for Prospecting, Exploration, Mining orProduction Operations by the Minister of Environmental Affairs on 20 November 2015 (2015Regulations) was met with significant resistance, with the Chamber of Mines noting that it wouldhave a "crippling effect" on the miningsector.
The MPRDA makes provision for applicants to apply for various mining titles, including prospecting and mining rights and mining permits. The regional …
In terms of Section 24 of NEMA, the holder of a prospecting right, mining right or mining permit must provide acceptable financial provision for the rehabilitation, closure and ongoing post ...
Application for Mining Titles. The MPRDA makes provision for applicants to apply for various mining titles, including prospecting and mining rights and mining permits. The regional managers of the Department of Mineral Resources and Energy ("DMRE"), receive and process applications. These applications are processed on a first-come first …
In terms of the extension notice, the applicable Mineral and Petroleum Resources Development Act (MPRDA) rights holders now have until 19 June 2021 to comply with the Financial Provisioning Regulations and shall, until this date, be regarded as having complied with the Financial Provisioning Regulations if compliant with the …
MPRDA Regulations, Atha-Africa had a Financial Provision calculated for the proposed mine, including the closure and rehabilitation costs. This Financial Provision is under dispute, as the Centre for Environmental Rights (CER) and …
to make provision for equitable access to and sustainable development of the nation's mineral and petroleum resources; and; to provide for matters connected therewith. Amends. Deeds Registries Act 47 of 1937; General Law Amendment Act 50 of 1956; Mine Health and Safety Act 29 of 1996; National Parks Act 57 of 1976; Land …
of view between MPRDA S41 financial provisioning and GNR 1147 • Points to be discussed include: Major differences in methodologies applied ... The engineering, mining and financial disciplines need to be involved throughout the process in order to "keep the solutions real and practical". • When financial provisioning is done, there is ...
8 WWF-SA Mining Financial Provisions Summary FINANCIAL INStRUMeNtS USeD FoR SeCURING FINANCIAL PRovISIoNS The financial rehabilitation provision required in terms of section 41 of the MPRDA can be provided via …
Table 3: Financial Provision for De Groote Boom Mining Area..... 15 LIST OF APPENDICES Appendix A: Infrastructure area Appendix B: DMR Methodology. Rehabilitation and Closure Report ... also made to the MPRDA Regulations, 53 – 57 and 60 – 62. Section 41 (1) of the Mineral and Petroleum Resources Development Act …
In terms of section 52(1) of the MPRDA, such notices must be sent by mining right holders where (a) prevailing economic conditions cause the profit-to-revenue ratio of a mine to be less than 6% on average for a continuous period of 12 months, or (b) if any mining operation is to be scaled down or to cease with the possible effect that 10% …
In this short article we take a look at what financial provision for rehabilitation of environmental damage caused by mining is, and some important proposed changes in the 2021 proposed Financial …
Financial Provisioning. Mining rights holders are required to provide financial provisions for environmental rehabilitation and mine closure. These provisions ensure that mining activities are conducted …
The requirement for financial provisioning in the MPRDA has been repealed and replaced by Section 24P of the NEMA, as amended, which provides that the holder of a mining right or permit must make ...
Methods for financial provision (1) Financial provision required in terms of section 41 of the Act to achieve the total quantum for the rehabilitation, management and remediation …
A brief input… •Mine closure context • Key Issues and Suggestions for MPRDA • Section 1 • Section 3 • Section 6 • A final vision
Prospecting rights are a crucial aspect of the mining industry in South Africa. They grant individuals or entities the exclusive right to explore and prospect for mineral resources within a designated area. …
The Financial Provisioning Regulations are more onerous than the previous financial provisions under the MPRDA. The Financial Provisioning Regulations came into effect on 20 November 2015, but the transitional provisions (as amended) indicate that existing holders of mining rights will only need to comply with the Financial Provisioning ...
The Mineral and Petroleum Resources Development Act 28 of 2002 (the MPRDA) is the primary regulatory framework legislation. The MPRDA specifically directs that where there is a conflict between the MPRDA …
Earlier this month, the Gupta-owned Optimum coal mine was brought under the spotlight for allegedly transferring R1.5 billion from its environmental rehabilitation trust fund which was an apparent breach of the Income Tax Act and the new financial provisioning regulations made by the Minister of Environmental Affairs last November.
The requirement to set aside financial provision for environmental rehabilitation was initially governed by section 41 of the Mineral and Petroleum Resources Development Act 4 of 2002 (MPRDA) but is now regulated by section 24P of NEMA and the 2015 Financial Provisioning Regulations that were published under Government …
'financial provision' means the insurance, bank guarantee, trust fund or cash that applicants for or holders of a right or permit must provide in terms of sections 41 and 89 …
(1) The holder of a mining right or mining permit must, at the registered office or place of business of such holder, keep proper records of mining activities and proper financial …
Pre-existing holders of a mining right and permit at the time (i.e. those whose rights granted under the MPRDA were issued before 20 November 2015) are covered in the transitional arrangements of ...
The NEMA provisions and Financial Provisioning Regulations are in line with the move towards the 'One Environmental System' which looks to transfer environmental …
However, in light of the environmental challenges linked to mine closure, changes were efected to both the National Environmental Management Act (NEMA) of 199817 and the …
6. the care and maintenance provisions in the 2015 Regulations are proposed to be removed in their entirety. Care and maintenance refers to the state of a mine's operations, where there is a deviation from the normal mining activities, potentially affecting the financial feasibility of the mine; 7.
Principles for mine closure - the risks pertaining to environmental impacts, residual and latent environmental impacts, as well as land rehabilitation activities, must be managed and quantified in accordance with NEMA, the Financial Provision Regulations, 2015 (to be replaced) and the Environmental Impact Assessment Regulations, 2014 ...
We note, however, that the Financial Provision Regulations, 2015 have been specifically amended to say that any right or permit holder (if applied for prior to 20 November 2015), must continue to calculate financial provisioning under the …
(Virtual Showroom): The Government Notice R1147 (GNR 1147) is a regulation with provides guidelines pertaining to the financial provisioning for prospecting, exploration, mining or production ...
The Mineral and Petroleum Resources Development Act 28 of 2002 (MPRDA) places the financial provision into context with respect to relevant constitutional ... relate to financial provision for the mining industry. This document is an official guideline in terms of regulation 54(1) promulgated in terms of the MPRDA, ...
