Friday, June 26, 2009.
From Creamer Media in Johannesburg, I’m Mariaan Webb.
Making headlines today:
Chamber of Mines techno economics assistant adviser Dick Kruger says the interim increase in electricity tariffs will add an additional 2-billion-rand in costs to the South African mining industry.
However, Kruger says that the chamber accepted that there appeared to be justification for the requested interim price increase.
The Chamber of Mines has also called on government to delay the implementation of the 2c/kWh environmental levy, which will be implemented on July 1, until the economic conditions are more conducive.
On Friday, gold major Harmony was selected as the preferred bidder for acquiring the Free State mining assets of the provisionally liquidated Pamodzi Gold.
Lead liquidator Enver Motala of SBT Trust says the selection remained subject to the formal approval from the major secured creditor, the State-owned Industrial Development Corporation, and the major trade unions and the relevant fulfilment of all conditions.
Also making headlines:
Metorex sells its gold holding for 386-million-rand to fund Ruashi and reduce debt.
Teck sees lower copper output after the Highland Valley pit wall movement.
Transnet says that South African coal exports are unlikely to breach 65-million tons this year.
And, a storm erupts over a production halt at Sierra Grande mine.
That’s a round up of news making headlines today. For more on these and other stories please visit miningweekly.com.
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Friday, June 26, 2009.
By: Natalie Greve
Appraising the proposed amendments to the Mineral and Petroleum Resources Development Act (MPRDA) Amendment Bill (B15B), which was passed by the National Assembly and the National Council of Provinces earlier this year, Norton Rose Fulbright director Professor Michael Dale said on Monday that, while there had been some advancement between each iteration, some legislative ambiguity remained. Focusing on prominent provisions within the legislation that governed beneficiation, he outlined that Section 26 explicitly stated that the Bill’s objective was to meet national development objectives and bring about optimal national benefit by transforming the mineral beneficiation sectors, ensuring the security of supply and developing local capacity. →
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