South Africa Mine Law Draft Still Flawed, Industry Says
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South Africa’s main mining-industry body said redrafted laws failed to address producers’ concerns that the state will force them to sell part of their output at below market prices.
Legislators are processing planned changes to the 2002 Mineral and Petroleum Resources Development Act, which seeks to ensure South Africans derive greater benefit from the nation’s mineral wealth. The Department of Mineral Resources released a new draft of the law yesterday, after companies including Anglo American Plc complained that the proposals would hurt their business and discourage investment.