After five years of confusion, Gwede Mantashe withdraws MPRDA Amendment Bill

Mineral Resources Minister Gwede Mantashe has announced that government will withdraw the controversial Mineral and Petroleum Resources Development Act (MPRDA) Amendment Bill.

It's a move likely to be welcomed by the industry, which has been dogged by uncertainty since 2014.

Deputy editor at Financial Mail, Sikonathi Mantshantsha joined Kieno Kammies on Friday morning to give his reaction to the news.

This is after five years of confusion, after five years of the mining moratorium because no one was going to invest...

Sikonathi Mantshantsha, deputy editor at Financial Mail

He explained part of the Act as: 'The government will grab 20% of any new investment in mines, in oil and gas exploration, in addition, you have to give 30% to BEE investors and whatever is left is yours but still the government will own 8% of royalties on anything you sell

All of sudden Gwede Mantashe says its ok we are withdrawing that and the existing Minerals Act can govern that.

Sikonathi Mantshantsha, deputy editor at Financial Mail

To hear the rest of the conversation with Sikonathi Mantshantsha, listen below:


This article first appeared on CapeTalk : After five years of confusion, Gwede Mantashe withdraws MPRDA Amendment Bill


Recommended

by NEWSROOM AI
Read More
 Will Mantashe's visit to Phalaborwa Mine impact the plight of miners?

Will Mantashe's visit to Phalaborwa Mine impact the plight of miners?

Minister of Mineral Resources Gwede Mantashe visits Phalaborwa mine after six miners died.

Shut down operations at Sibanye and send in inspectors - Cosatu

Shut down operations at Sibanye and send in inspectors - Cosatu

The federation says Mineral Resources Minister Gwede Mantashe must make use of Section54 in the Mine Health & Safety Act.

LISTEN: 'Jacob Zuma's charges are not causing divisions in KZN' -Sihle Zikalala

LISTEN: 'Jacob Zuma's charges are not causing divisions in KZN' -Sihle Zikalala

ANC KwaZulu-Natal's provincial task team co-ordinator Sihle Zikalala says he defended Mantashe over the weekend.

Blame game over collapsed ANC KZN elective conference

Blame game over collapsed ANC KZN elective conference

Eyewitness news reporter Ziyanda Ngcobo provides insight into the collapsed ANC KZN elective conference on Friday.

Gwede Mantashe: Let's not dilute the mining charter

Gwede Mantashe: Let's not dilute the mining charter

Minister of Mineral Resources Gwede Mantashe gives insights into job losses and changes in the mining charter.

Land reform: government concerned about 'greedy farmers'

Land reform: government concerned about 'greedy farmers'

EWN reporter Mia Lindeque reports on the land reform dialogue on land reform hosted at the Gordon Institute of Business Science.

Gwede Mantashe calls for mutual respect from mining unions and bosses

Gwede Mantashe calls for mutual respect from mining unions and bosses

Minister of Mineral Resources Gwede Mantashe says those who don't reciprocate with the same respect will be left behind.

Popular articles
'Ramaphosa is an a spot of bother'

'Ramaphosa is an a spot of bother'

News24 editor-in-chief Adriaan Basson says the president's campaigners should never have asked Bosasa for a donation.

Mbube copywright: 'A lump sum of royalties would be paid to Linda family'

Mbube copywright: 'A lump sum of royalties would be paid to Linda family'

Spoor & Fisher consultant professor Owen Dean explains the outcome of the copyright infringement case against Disney.

[VIDEOS AND PHOTOS] SANDF troops finally roll into the Cape Flats

[VIDEOS AND PHOTOS] SANDF troops finally roll into the Cape Flats

Residents were out on the streets to watch the troops arriving in Manenberg and Hanover Park on Thursday afternoon.

You made a huge mistake downloading FaceApp if your privacy is important to you

You made a huge mistake downloading FaceApp if your privacy is important to you

Washington Post technology columnist Geoffrey A. Fowler did a forensic analysis of the Russia-based app. Check it out.

How to buy a new car even if you don’t really have enough money for it

How to buy a new car even if you don’t really have enough money for it

South Africans are increasingly buying cars they can’t afford using balloon payments, says consumer journalist Wendy Knowler.

[2018] Jesse Clegg (son of Johnny) opens up about money and growing up on tour

[2018] Jesse Clegg (son of Johnny) opens up about money and growing up on tour

[From the archives] Jesse Clegg talks about his famous father and attitude to money (hopes and fears, successes and failures...).

Investigators find serious corruption at EOH

Investigators find serious corruption at EOH

A probe found "suspicious transactions" worth R1.2bn, bribery and theft. Bruce Whitfield interviews EOH CEO Stephen Van Coller.

I decided to make this Rihanna song with my maskandi vision - Mbuzeni Mkhize

I decided to make this Rihanna song with my maskandi vision - Mbuzeni Mkhize

After South African star Mbuzeni Mkhize performed a remix of Rihanna's track 'Diamonds' she contacted him to collaborate with her.