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MINING LAWS, CHANGES IN LEGISLATION/GENERAL DISCUSSION
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The old Mines and Minerals Act was outdated, having been initially passed by the white minority-based Rhodesian regime in 1961, amended under the Mugabe government in 1996 regarding rules on special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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Posts: 5,411
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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  
 
blacksheep
post Posted: May 16 2018, 10:45 PM
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Congo mining regulations committee completes work, miners say
QUOTE
LONDON, May 14 (Reuters) - Major miners operating in the Democratic Republic of Congo, Africa’s top copper producer, said on Monday that a commission set up to draft detailed regulations to implement a new mining code had completed its work

https://www.reuters.com/article/congo-minin...y-idUSL5N1SL6W5



--------------------
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: Mar 23 2018, 09:52 AM
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As commodities roar, Africa wants bigger slice of mining pie
Bloomberg News | about 5 hours ago
extract
QUOTE
(Bloomberg) — One by one, the biggest names in African mining are getting squeezed. The tactics might be blunt, but the message is clear: the countries where they operate want a bigger share of the proceeds.

The collapse in commodities through 2015 hobbled some of Africa’s biggest resource economies, stunting growth and leaving budgets short. Since then a recovery in prices has sent the continent’s biggest miners soaring, boosted profits and rewarded shareholders with bumper payouts. But a lack of returns to governments is drawing a backlash from Mali in the Sahara to Tanzania on the Indian Ocean.

read more - http://www.mining.com/web/commodities-roar...ice-mining-pie/



--------------------
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: Mar 22 2018, 02:05 PM
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In Reply To: blacksheep's post @ Mar 19 2018, 10:14 AM

Not really about mining laws but a crack down on miners by the Zambian govt

QUOTE
On Tuesday, First Quantum revealed that the Zambian tax agency reassessed its equipment imports over six years, demanding almost $8 billion in interest, penalties, and reassessment charges. Africa’s second-largest copper producer is planning to audit all mining companies operating in Zambia, which include units of Glencore Plc and Vedanta Resources Plc, as well as Barrick.


http://www.mining.com/web/barrick-gold-yet...-tax-crackdown/



--------------------
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: early birds  
 
 


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