DMRE best of bad regulatory bunch

Once the greatest mining country on earth, South Africa’s annual mining production last year shrank 10.7 percent to its biggest annual decline since 1990, 31 years ago. South Africa now attracts less than 1% of annual global mineral exploration spend. Ongoing mineral exploration is the only way to ultimately sustain mining’s 7% contribution to GDP. SA’s “mineral potential – assuming best practice” is ranked by the Fraser Institute as 30 out of 83 mining jurisdictions SA mining investment could almost double in the next four years if the country was to return to the top quartile of the most attractive mining investment destinations.

Speaking at the Minerals Council SA’s 131st AGM, mineral resources and energy minister Mantashe singled out the way the department handles applications for prospecting and mining rights for harsh criticism.

SA’s mineral rights processing system is a nightmare, what work is under way to improve it?

Michael Avery spoke to Afrimat CEO Andries van Heerden, Peter Leon, respected mining law expert, partner at law firm Herbert Smith Freehills

and

the global co-chair of its Africa Group; and Peter Major, veteran mining analyst at Mergence.