ning financial provision mprda

  • Financial Provision Regulations & NEMLA Bill

    Financial Provision Regulations & NEMLA Bill

    The MPRDA was amended by the Minerals and Petroleum Resources Development Amendment Act 49 of 2008, but be sure to read the two proclamations (Proclamation No. 14 of 2013 and Proclamation No. 17 of 2013) that brought the 2008 Amendment Act into effect, and suspended some of its provisions.Therefore, notwithstanding the coming into force of the 2008 Amendment Act, the …

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  • AMENDMENTS TO THE FINANCIAL PROVISIONING …

    AMENDMENTS TO THE FINANCIAL PROVISIONING …

    On 27 March 2020, the Minister for the Department of Mineral Resources and Energy published for implementation, the Amendments to the Mineral and Petroleum Resources Regulations (“ Amendment Regulations ”).The Amendment Regulations take effect from

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  • Minister Nomvula Mokonyane publishes amendments to …

    Minister Nomvula Mokonyane publishes amendments to …

    • Any financial provision submitted in terms of regulations 53 and 54 of the MPRDA Regulations for which approval is pending or under review when these regulations came into effect, must be dispensed with in terms of regulations 53 and

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  • Mine closure, rehabilitation and retention of financial provision (s43)

    Mine closure, rehabilitation and retention of financial provision (s43)

    On 17 January 2020, the long-awaited notice extending the transitional timeframe for compliance with the Financial Provisioning Regulations, 2015 was published by Minister of Forestry and Fisheries and Environmental Affairs Barbara Creecy. This site uses cookies

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  • South Africa: MPRDA related timeframes extended

    South Africa: MPRDA related timeframes extended

    If a provision exists at the end of the financial year it will need to be reviewed and accordingly increased or decreased – similar to doubtful debts: Increase in the provision: Decrease in the provision: Dr Profit & Loss Dr Provision – SOFP Cr Provision – SOFP

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  • FINANCIAL PROVISION REGULATIONS

    FINANCIAL PROVISION REGULATIONS

    increase his or her financial provision to the satisfaction of the Minister, and • Section 45, allows the Minister to recover costs in the event of urgent remedial measures. Regulations promulgated in terms of the MPRDA (Act 28 of 2002) The financial provision

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  • Mine closure, rehabilitation and retention of financial provision …

    Mine closure, rehabilitation and retention of financial provision …

    the definition of “financial provision” in the MPRDA, which only contained a general requirement for financial provision for holders of mining authorisations to undertake rehabilitation of the affected areas, has been deleted. The new provision in NEMA is more

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  • MINING & MINERALS

    MINING & MINERALS

    In terms of the MPRDA Bill, the Minister has the discretion to retain the financial provision “for such period, as the Minister may determine having regard to the circumstances relating to the relevant operation, which portion and period must be determined in the

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  • Ms F C Bikani, MP

    Ms F C Bikani, MP

    8 WWF-SA Mining Financial Provisions Summary FINANCIAL INStRUMeNtS USeD FoR SeCURING FINANCIAL PRovISIoNS The financial rehabilitation provision required in terms of section 41 of the MPRDA can be provided via one of four methods: cash deposit

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  • Mining 2020 | Laws and Regulations | South Africa | ICLG

    Mining 2020 | Laws and Regulations | South Africa | ICLG

     · Overhaul of financial provision regime takes a step in the direction of legal certainty The publication of the Financial Provision Regulations for Prospecting, Exploration, Mining or Production Operations by the Minister of Environmental Affairs on 20 November 2015 (2015 Regulations) was met with significant resistance, with the Chamber of Mines noting that it would have a “crippling effect ...

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  • Explanatory note i.t.o. the Regulations Pertaining to the Financial Provision …

    Explanatory note i.t.o. the Regulations Pertaining to the Financial Provision …

    The financial provision for the environmental rehabilitation and closure of any mine and its associated mining operations forms an integral part of the MPRDA, and is addressed in Sections 41(1), 41(2), 41(3) and 45 of the Act.

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  • Amendments to the Mineral and Petroleum Resources …

    Amendments to the Mineral and Petroleum Resources …

    Previous financial provision requirements under MPRDA Section 41 of the MPRDA, which has subsequently been repealed, required that an applicant for a prospecting right, mining right or mining permit make a prescribed financial provision for the rehabilitation or

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  • Newsletter

    Newsletter

    On 20 November 2015, the National Environmental Management Act No. 107 of 1998 (“NEMA“) “Financial Provisioning Regulations, 2015″ GNR1147 GG 39425 (“2015 Regulations“) were promulgated, resulting in a significant shift of thinking from the longstanding ‘simple’ Regulation 53 and 54 process, contained in the Mineral and Petroleum Resources Development Act (“MPRDA ...

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  • DRAFT REVISED FINANCIAL PROVISIONING REGULATIONS, …

    DRAFT REVISED FINANCIAL PROVISIONING REGULATIONS, …

    (Harmony Gold, 2014) (MPRDA Amendment Bill, 2013). Attention has, in particular, been focused on the financial provision, the duration of liability and the gaps which allow companies to contract out of their mine closure obligations (WWF, 2012), (Humby.

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  • GUIDELINE FOR THE SUBMISSION OF A SOCIAL AND LABOUR PLAN

    GUIDELINE FOR THE SUBMISSION OF A SOCIAL AND LABOUR PLAN

    On 20 November 2015 in Government Gazette 39425 Notice Number GN R1147 the Minister of Environmental Affairs published the Regulations Pertaining to Financial Provision for Prospecting, Mining, Exploration and Production Operations (the Financial Provisioning Regulations, 2015) which came into effect on the date of publication in the Gazette. The purpose of the regulations is to regulate …

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