🔒 Years of regulatory uncertainty have resulted in a 65% decrease in mining exploration over the past eight years, and net investment by companies into new mines, machinery and equipment has declined by 70% since 2009.
Key provisions, which the industry argues continue to threaten its viability and are now being challenged, have remained unresolved despite ongoing discussions with the department and the mineral resources minister, Gwede Mantashe.
The action by the council appears to be a last resort, said Peter Leon, partner at law firm Herbert Smith Freehills. He said the failure to resolve a number of problematic provisions in the charter undermined the minister’s undertakings to provide greater regulatory certainty to the industry.The provisions include “onerous re-empowerment” obligations for mines on the renewal or transfer of existing mining rights.
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