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
'Majority of tax payers will get R153 more in their pocket this year'

'Majority of tax payers will get R153 more in their pocket this year'

Co-Founder at TaxTim Marc Sevitz says no tax decrease for tax payers may be the only disappointment in the budget speech.

#Budget2019 "Do we really need SOEs?"

#Budget2019 "Do we really need SOEs?"

In his first budget speech, Tito Mboweni pledged a conditional R23bn a year for Eskom and a pay freeze for MPs and MPLs.

[VIDEO] Muizenberg pedestrian attacked in broad daylight

[VIDEO] Muizenberg pedestrian attacked in broad daylight

A woman was attacked on her way to work earlier this month.

'Netflorist ad shouldn't be banned, but it's a piss-poor example of creativity'

'Netflorist ad shouldn't be banned, but it's a piss-poor example of creativity'

Show host Eusebius McKaiser discusses the Netflorist ad which won an advertising standards case about using racial stereotypes.

[WATCH] Pupils packed in minibus taxi like sardines causes social media outrage

[WATCH] Pupils packed in minibus taxi like sardines causes social media outrage

Khabazela shares tweets and Facebook posts that have gone viral.

[WATCH] Owner catches car thief off guard and thwarts vehicle theft in Springs

[WATCH] Owner catches car thief off guard and thwarts vehicle theft in Springs

The vehicle's owner came out of the store just in time to scare away the man attempting to steal his bakkie.