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MINING LAWS, CHANGES IN LEGISLATION/GENERAL DISCUSSION
blacksheep
post Posted: Sep 19 2018, 02:27 PM
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Something to keep in m ind if invested in the Philippines
Philippines president repeats desire to "close all mining" after landslides
Reuters | a day ago |
QUOTE
MANILA, Sept 17 (Reuters) – Philippine President Rodrigo Duterte on Monday repeated his desire to shut all mines in the country following deadly landslides that some government officials and large miners said have been exacerbated by illegal small-scale mining.

"If I were to try to do my thing I will close all mining in the Philippines," Duterte said, presiding over a televised meeting of the government's disaster response team two days after a powerful typhoon struck.

Environment and Natural Resources Secretary Roy Cimatu earlier on Monday ordered all small-scale mining stopped in the Cordillera region, where landslides killed 24 people.

(Reporting by Manolo Serapio Jr.; Editing by Edmund Blair)

http://www.mining.com/web/philippines-pres...ing-landslides/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jul 3 2018, 10:40 PM
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Article most about Acacia, but briefly mentions other companies operating there

Is Tanzania wagging the dog with new Mining Act?
extract
QUOTE
Johnson highlights that Tanzania is very closely allied with China.

“This might be a factor as China would like to participate with Tanzania to establish government-owned and operated mining ventures. The Tanzanian State Mining Corporation (Stamico) could be fully revived to take over mining activities on behalf of the government and participate in joint ventures with Chinese interests.”


QUOTE
Acacia can some take comfort in the knowing that it is not alone in its struggles with the country’s Mining Act.

Other mining companies with operations or exploration ventures in Tanzania include:

Armadale Capital, who recently completed its optimisation study for its Mahenge Liandu graphite project;
Rift Valley Resources, who has sold its Kitongo gold project;
Kibo Mining which is currently involved with the Mbeya coal to power project;
Black Rock Mining, who is developing it Mahenge graphite project;
Shanta Gold who may looking at similar tax and concentrate figure contention with the government;
Magnis Resources which has reached an agreement with the government on amendments to the Special Economic Zone licence;
Peak Resources which has updated its application for the Ngualla rare earth mine;
Volt Resources which has lodged its mining licence applications with the Minister of Minerals for its Bunyu graphite project; and
East Africa Metals which has sold its gold assets in Tanzania.

https://www.miningreview.com/tanzania-waggi...dog-mining-act/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jun 16 2018, 01:41 PM
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South Africa's new mining charter to credit past black deals
Bloomberg News | about 9 hours ago |

QUOTE
(Bloomberg) — South Africa will give mining companies credit for past black-empowerment deals even when the investors later sold their shares to whites or foreigners, removing a major concern for the industry.

The country’s new Mining Charter, which is aimed at distributing South Africa’s mineral wealth more widely, will apply the “once empowered, always empowered” principle as long they met the previous 26 percent black-ownership requirement. The minimum percentage will also be increased to 30 percent within five years of the new set of rules taking effect.

Mineral Resources Minister Gwede Mantashe has held months of talks with companies, unions and mining communities on an update to the regulations after a version published last year by his predecessor drew furious opposition and legal challenges from the industry. The Mining Charter, introduced in 2004, laid out rules and targets for areas such as black ownership to help to redress economic inequalities stemming from white-minority rule under apartheid. It was also updated in 2010.

South Africa has the world’s biggest reserves of platinum, and its mineral deposits also include gold, manganese, iron-ore, coal, chrome and zinc. Anglo American Plc, Glencore Plc and South32 Ltd. are among companies operating in the country.

For new mining rights, the minimum 30 percent black ownership requirement includes a 5 percent free-carried interest and 3 percent financed interest each for workers and mining communities, according to the draft, which was published for public comment before being finalized. The remaining 14 percent is for black investors.

The Minerals Council South Africa, a lobby group representing most producers, said it will take time to study the document but that it’s against the free-carry provision, which will hurt prospects for new investment in mining and reduce the profitability of future developments.

New mining right holders also must pay 1 percent of earnings before interest, taxes, depreciation and amortization to employees and communities. That’s a change from last year’s version, which required companies to pay at least 1 percent of annual revenue to black shareholders.

The recognition of the “once-empowered, always empowered” principal comes after the industry won a court ruling in April that the first two versions of the Mining Charter didn’t require producers to top up black-shareholding levels in perpetuity if they previously met the minimum level.

“The recognition of continuing consequences shall include historical transactions concluded on units of production, share assets” including all historical black economic empowerment transactions which formed the basis upon which new order mining rights were granted, according to the draft.

The council said last year that the charter produced in 2017, drafted by previous Minerals Minister Mosebenzi Zwane, threatened as many as 100,000 jobs.

Tensions have eased between government and industry since President Cyril Ramaphosa, who appointed Mantashe in February, said he wants to resolve the impasse over the charter and convinced the lobby group to suspend its legal challenge to Zwane’s document.

Other points in the new charter include:

At least 50 percent of directors and 50 percent of top management must be black. At least 70 percent of the mining-goods procurement budget must be spent on South African manufactured goods, with a 60 percent local-content value. At least 80 percent of the money spent on services must be to South African companies.

(Written by Felix Njini and Paul Burkhardt)

http://www.mining.com/web/south-africas-ne...st-black-deals/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jun 16 2018, 01:30 PM
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Zimbabwe passes new mining act as mineral production ramps up
By IM STAFF
Published: Tuesday, 12 June 2018

The approval of new mining legislation in Zimbabwe seeks to open the country up to greater levels of investment and boost its output of minerals, such as chrome and lithium.

By Kudzai Mashininga
QUOTE
Zimbabwe’s parliament has approved new mining legislation and measures that reform controls imposed under the ex-President Robert Mugabe, with the goal of boosting production and wooing investors. The liberalizing measures dovetail with declarations from new President Emmerson Mnangagwa that the country – which has extensive lithium and chrome deposits – is now open for business.

The changes, which have been welcomed by the mining sector and opposition parties, have been in development since the resignation of Mugabe last November. Mnangagwa has pushed to secure the new mining laws ahead of a planned July 30 general election.

The old Mines and Minerals Act was outdated, having been initially passed by the white minority-based Rhodesian regime in 1961, amended under the Mugabe government in 1996 regarding rules on special leases.

An attempt at comprehensive reform was first begun under Mugabe – a bill being tabled in 2016 – but it suggested increasing a range of controls, and changes agreed since his fall from power have turned the law into a more business-friendly document.

Gone, for instance are plans to demand annual regulatory approval for any work undertaken by a mining company when exploiting government-issued leases. The same applies to a Mugabe-era proposal to require foreign mining companies to list locally.

The new law also intends to establish a computerized cadastral system to replace current manual mining title management.

For the first time, the law also recognizes small-scale miners and gives them security of tenure, bringing them under regulatory requirements to operate safely and with a view to protecting the environment.

It also provides for a dispute resolution mechanism regarding mining concessions and prohibits child labor in the industry.

The new law follows reforms approved in March to the Mugabe-era Indigenisation and Economic Empowerment Act, which aimed to increase black Zimbabweans’ ownership of mines by preventing foreign entities from having majority shareholdings in the sector. The revised law removed that requirement for mining operations for all minerals, except diamond and platinum.

The president of the Chamber of Mines of Zimbabwe, Batirai Manhando, said at his organization’s annual general meeting in May that the chamber had worked with the new government to reform the legislation.

"Renewed interest in the mining sector and the potential of a strong recovery in mineral prices is cause for optimism. The industry is poised to leverage on enhanced FDI [foreign direct investment] inflows and firming prices to retool and grow output," he said.

Manhando said in 2017, Zimbabwe’s mining industry revenues had grown 8.5% year on year, largely driven by significant output increases in chrome, gold, coal and diamonds. He said total mineral revenues increased to $2.6 billion from $2.1 billion in 2016. He stressed that the mining industry provides more than 40,000 formal jobs and work for more than 200,000 artisanal and small-scale miners.

Mines and mining development minister Winston Chitando told Industrial Minerals the government foresees growing Zimbabwe mining output over the next five years. "This year, the mining sector is poised for a major turnaround."

His government has been negotiating with Australia-based Prospect Resources Ltd to exploit the Arcadia project lithium deposit in Matabeleland - the company says it has more than 14 square kilometers of granted mining claims in "the largest code compliant hard rock lithium deposit in Africa".

As for chrome, the Minerals Marketing Corp of Zimbabwe (MMCZ) said in March this year that chrome ore production increased 92% year on year in 2017 to reach 122,010 tonnes, up from 63,394 tonnes in 2016.

Economics spokesman for the opposition party, the Movement for Democratic Change, Eddie Cross told Industrial Minerals that the appointment of Chitando, a former mining executive, after Mnangagwa’s rise to power, as well as the new law have started to give confidence to investors.

Noting that the old law was very outdated, he added that the legal recognition of small-scale miners so that they can enjoy legal title over their mineral rights, including security of tenure is a significant development.

"At the same time the minister has carried the larger miners with him and this Act is largely consensual in character. It will lay the foundations for rapid expansion of the industry and will provide a more secure operating environment," said Cross.

He, however, added that the new administration has yet to satisfactorily address challenges at the Marange Diamond fields where looting was rampant during the Mugabe era.

"Marange needs a top flight professional firm with the requisite skills and capital to exploit the hard rock mining that remains. Although the new government has recruited some skills and experience – the institutional structure is still not right," said Cross.

Chitando added: "This year the mining sector is poised for a major turnaround. In the gold sector, we expect to get 30 tonnes up from 26 tonnes, diamonds output will reach three million carats and we had already done one million carats by the end of May. By 2023, we anticipate that we will produce 11 million carats. Within five years, gold [production should reach] 80 tonnes."


http://www.indmin.com/Article/3813148/Zimb...n-ramps-up.html



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jun 10 2018, 03:28 PM
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In Reply To: blacksheep's post @ Jun 8 2018, 10:47 AM

Congo mining code regulations signed into law: aides
QUOTE
KINSHASA (Reuters) - Regulations to implement Congo’s new mining code have been signed into law with no changes, advisers to the prime minister told Reuters on Saturday, despite objections from mining firms that have been threatening legal action.

https://www.reuters.com/article/us-congo-mi...s-idUSKCN1J50D8

The following is an extract from NortonRose article published February 2018 showing key changes - I assume they are correct, but DYOR
QUOTE
The DRC mining code revision process which started in 2012, some 10 years after the Code was originally adopted, has finally led to a bill that was approved by both houses on 27 of January 2018.

The bill is ambitious and challenging.

The text is awaiting some “tidying up” before being put to President Kabila for promulgation. Such clarification would be useful as several provisions seem at this stage unpractical, unclear or possibly inconsistent. Mining companies and investors will also be concerned about the economic and practical impacts of the changes. If promulgated ‘as is’ the bill will not only increase future investors’ obligations but might also be read as immediately impacting current operations and existing rights.

Some of the key changes to the mining code would include:

Exploitation licences reduced from 30 to 25 years, exploration licences renewable only once.
State free carry non-dilutable equity stake increased from 5% to 10% and increased by 5% on each renewal of a mining licence.
10% share capital stake to be held by Congolese private citizens for creating a mining company.
Covenant to comply with the social responsibility undertakings given to local communities.
Increased obligations regarding local processing and local contents.
Mining Code tax benefits extended to mining companies’ subcontractors only if they are controlled by Congolese shareholders.
Increased tax and custom burden.
Royalties increased from 2% to 3.5% for non-ferrous and base metals and from 2.5 to 3.5% for precious metals and calculated on the gross market value of the products.
Creation of a special 10% royalty on minerals deemed by the State to be “strategic substances”, the list of such substances to be determined by the upcoming application texts.
Creation of a special 50% tax on excess profits, defined as profits made when a commodity exceeds by 25% the price used in the bankable feasibility study.
Validity of assignment of mining titles subject a 1% registration fee based on the price, which may itself be subsequently reviewed by the authorities.
Direct and indirect change of control of an exploitation title holder subject to the prior approval of the State.
Obligation to repatriate funds increased from 40% to 60% during the ‘investment return phase’ and to 100% thereafter, with no possibility of using funds repatriated to pay external debt.
At least 40% of the funds required to develop the project to be contributed by way of capital injection, rather than financed through debt.
Registration fees of mortgages charging exploitation permit increased from a modest flat fee to a percentage of the secured amount.
Immediate application of the Code to holders of mining conventions.
Uncertainty as to whether the revision is immediately applicable and overrides existing rights and stability provisions or whether tax, customs and exchange control benefits of existing title holders are kept whole for another 5 years.
These are only a few of the changes which the revision is introducing. Given its complexity, further analysis of the text and its impact on individual operations will be needed. However, to the legal professionals who have followed the evolution, over the past 10 years, of the mining legislative and contractual framework in Africa’ major mining hubs, it seems already clear that significant efforts on the part of the Government, mining companies, financiers and their respective advisors will be necessary to address the consequences of this bill if it is implemented in its current state.

http://www.nortonrosefulbright.com/knowled...public-of-congo



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Jun 8 2018, 10:49 AM
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Brazil’s President to change mining regulations as early as next week
Cecilia Jamasmie | about 8 hours ago |
extract
QUOTE
The expected decree, says Trindade, will include provisions about exploration and extraction and the new mining agency’s attributions, continuity of exploration works during the transition to development and mining, infractions and penalties and mine closure rules, among other issues.

According to anonymous sources quoted by Reuters, it may also open up about 20,000 exploration blocks where permit applications have been postponed or abandoned, one source said. Those areas, which account for about a tenth of Brazil’s pending permits, would be subject to new auctions.

“In short, the update of the regulations will help filling in some gaps that cause uncertainties to the industry and to the mining agency,” Trindade told MINING.com, adding that a draft was submitted to public consultation and discussed in a public hearing in March.

http://www.mining.com/brazils-president-to...y-as-next-week/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 


blacksheep
post Posted: Jun 8 2018, 10:47 AM
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In Reply To: blacksheep's post @ May 30 2018, 01:43 PM

Congo mining regulations to be signed into law on Friday — mines minister
Reuters | about 14 hours ago |
QUOTE
Democratic Republic of Congo's prime minister will sign into law on Friday regulations to immediately implement a new mining code without any concessions to industry demands that key provisions be amended, the mines minister said on Thursday.

The move could set off a legal battle between the government and major mining companies operating in Congo, including Glencore and Randgold, which threatened legal action against the government last week if their concerns about tax hikes and the elimination of exemptions were not addressed.

"The code will be applied as it was promulgated!" Mines Minister Martin Kabwelulu told Reuters in a text message.

A spokeswoman for Randgold, who has been handling media queries on behalf of seven of the largest foreign companies operating in Congo, did not immediately respond to a request for comment.

Kabwelulu said the regulations would first be adopted at a cabinet meeting on Friday and then signed by Prime Minister Bruno Tshibala in the evening, adding that "the application of the code will be immediate!"

The new code scraps 10-year protections for existing projects against changes to the fiscal regime, imposes a windfall profits tax and increases royalties. Congo is Africa's top copper producer and the world's leading miner of cobalt.

(Reporting by Aaron Ross; Editing by Adrian Croft)

http://www.mining.com/web/congo-mining-reg...mines-minister/



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: May 30 2018, 01:43 PM
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In Reply To: blacksheep's post @ May 16 2018, 10:45 PM

Miners Warn Congo It Faces $3 Billion Revenue Loss Over New Law
By William Clowes
May 30, 2018, 12:27 AM GMT+10
QUOTE
Companies including Glencore, Rangold oppose mine-code changes
Congo is world’s largest source of cobalt, major copper miner

https://www.bloomberg.com/news/articles/201...ss-over-new-law



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: gumboots  
 
blacksheep
post Posted: May 25 2018, 11:22 PM
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In Reply To: blacksheep's post @ May 20 2018, 12:43 PM

24 MAY 2018
Tanzania Drive Against Illicit Cash Transfers
extract
QUOTE
y Rosemary Mirondo
Dar es Salaam — The Tanzanian government has ordered multinational companies in the extractive sector to open local bank accounts where authorities can access their finances as one of the initiatives the state has introduced to curb illicit financial transfers.

The government's decision is in line with the new mining laws that also include the oil and gas subsector, according to the recently published regulations.

Companies are required to comply with the directive immediately.

This is after the government published the regulations February this year.

The move comes as the 2014 report dubbed "Illicit Financial Flows from Africa: Hidden Resources Development," by Global Financial Integrity reveals that Tanzania lost $8.9 billion in four decades through illegal transfers abroad.

read more -http://allafrica.com/stories/201805240181.html



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: gumboots  
 
blacksheep
post Posted: May 20 2018, 12:43 PM
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Most appear to be licences for small miners - Tanzanian not foreigners - but 8 ML's which had met the criteria should be issued and 7 others will be issued after settling some "legal issues"

SATURDAY, MAY 19, 2018
Commission to issue 1,000 mining licences
QUOTE
Tanzania’s mining commission has announced it will issue 1,691 mining-related licences in one week including those of dealers and brokers which which will expire this June

http://www.thecitizen.co.tz/News/Commissio...09dz/index.html



--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington

Said 'Thanks' for this post: gumboots  
 
 


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