Financial Provisions for Rehabilitation and Closure in …
estimation of financial provisions as provided for in section 41 of the MPRDA should be in sync with the EMP and may be based either on rehabilitation and closure cost estimation models developed by the mining concern or the DMR guidelines developed in 2005. A review of the practice of financial provision estimation, looking at the efficacy and
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FINANCIAL PROVISIONING REGULATIONS, 2017
Resources Development Act ("MPRDA") Regulations, 2004. The 2015 Regulations were immediately applicable to applicants financial provision to be set aside – double …
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Contents
rules and regulations under NEMA and the MPRDA pertaining to a mining rehabilitation company or trust . The MPRDA governs the acquisition, use and disposal of mineral rights. ... MPRDA, the Minister may retain any amount of financial provision in a mining rehabilitation company or trust for latent, health and any environmental impact which
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Financial Provisions for Rehabilitation and Closure in …
The financial rehabilitation provision required in terms of section 41 of the Mineral and Petroleum Resources Development Act 3 can be provided in one of four methods: cash …
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South Africa: Compliance date for the National …
Practically, if this proposed change is effected, whenever one applies for section 11 and section 102 consents under the MPRDA, they will be required to update all the applicable plans and confirm whether the existing financial provision is adequate. That the Draft FP Regs will apply notwithstanding the applicability of section 52(1) of MPRDA.
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Invitation to apply for artisanal and small-scale mining funding
The department of mineral resources & energy is accepting applications for financial provision from the Small-Scale Mining Fund until February 29 2024. All applicants for the Small-Scale Mining ...
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Legal requirements for mine closure in South Africa
The requirement for financial provisioning in the MPRDA has been repealed and replaced by Section 24P of the NEMA, as amended, which provides that the holder of a mining …
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Mineral and Petroleum Resources Development Act No. 28 …
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 …
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REVIEW AND ANALYSIS OF THE MINE CLOSURE AND …
However, in light of the environmental challenges linked to mine closure, changes were efected to both the National Environmental Management Act (NEMA) of 199817 and the …
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South Africa
1 May 2024 marks the 20 th anniversary of the Mineral and Petroleum Resources Development Act, 2002 ("MPRDA"), coming into force. The MPRDA has been transformational in many aspects, most notably as it has abolished private ownership of minerals. It has further provided that 'mineral resources are the common heritage of all …
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The transition from the Mineral and Petroleum Resources
The existing transitional provisions do not cover all the scenarios that require transitional regulation. For example, there is some debate as to whether a pending application to amend a mining EMP in terms of section 102 of the MPRDA is a pending application for the purposes of the National Environmental Management Act 62 of 2008.
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Amendments to the MPRDA Regulations published for implementation
In terms of section 52(1) of the MPRDA, such notices must be sent by mining right holders where (a) prevailing economic conditions cause the profit-to-revenue ratio of a mine to be less than 6% on average for a continuous period of 12 months, or (b) if any mining operation is to be scaled down or to cease with the possible effect that 10% …
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Revisions: Replacement NEMA Financial Provisioning Regulations
The definition of "applicant" no longer includes MPRDA section 11 applicants, a welcomed relief for mining related M&A activity. The FP Regulations will continue to apply to all current holders of MPRDA rights and permits (subject to transitional arrangements) and new MPRDA applicants. ... Financial provision must here be …
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The Mineral and Petroleum Resources Development Act in …
South Africa, endowed with a wealth of mineral and petroleum resources, has long been reliant on its extractive industries for economic growth. The Mineral and Petroleum Resources Development Act, also known by its acronym " MPRDA", represents a radical shift in the regulatory landscape, redefining the country's approach to its …
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FINANCIAL PROVISION REGULATIONS
FINANCIAL PROVISION REGULATIONS. Title: Regulations Pertaining to the Financial Provision for Prospecting, Exploration, Mining or Production Operations Government Notice: GN R1147 in GG 39425 of 20 November 2015 ... upon the issuance of the Closure Certificate in terms of the MPRDA, such financial provision must be ceded …
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Compliance with Financial Provisioning Regulations for
Section 41(2) of the MPRDA provides that, if the holder of a prospecting or mining right or mining permit fails to rehabilitate or manage, or is unable to undertake such rehabilitation or to ...
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MINERAL AND PETROLEUM RESOURCES DEVELOPMENT REGULATIONS …
The Minister of Minerals and Energy has, under section 107 (1) of the Mineral and Petroleum and Resources Development Act, 2002 (Act 28 of 2002), read with the provisions of section 14 of the Interpretation Act, (Act 33 of 1957) made the regulations in the Schedule. SCHEDULEARRANGEMENT OF REGULATIONSCHAPTER 1. Short …
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Financial provisioning for environmental
This fund is administered by the DMRE Rehabilitation Trust, established in 2003 to provide holders of prospecting and mining rights with the option to make financial provision by …
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mining financial provision mprda
mining financial provision mprda. What you should know about proposed new rules for . 2022310 The requirement to set aside financial provision for environmental rehabilitation was initially governed by section 41 of the Mineral and Petroleum Resources Development Act 4 of 2002 (MPRDA) but is now regulated by section 24P of NEMA and ...
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GUIDELINE DOCUMENT FOR THE EVALUATION OF THE …
and 54 promulgated in terms of the MPRDA deal with financial provision for mine rehabilitation and closure. The holder of a right as described in the relevant sections of the MPRDA and its regulations must provide the Department of Minerals and Energy (DME) with sufficient financial provision. Officials in the DME Regional Offices are required
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Understanding Mining Rights in South Africa
Mineral and Petroleum Resources Development Act ("MPRDA") The MPRDA is the primary legislation governing mining rights in South Africa. It sets out the requirements and procedures for obtaining, maintaining, and transferring mining rights, as well as the environmental, social, and financial obligations of mining rights holders.
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Mineral and Petroleum Resources Development Act: Regulations
The Government Gazette is published on the Government Works' website.. Mineral and Petroleum Resources Development Act: Regulations
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GUIDELINE DOCUMENT FOR THE EVALUATION OF THE …
Financial provision for environmental rehabilitation and closure requirements of mining operations forms an integral part of the MPRDA, as was the case with the now repealed …
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The long-awaited third draft of the Replacement NEMA Financial …
The third and hopefully final warm-up match has started. The public has been called on to comment on DFFE's final suggested draft of the NEMA Financial Provisioning Regulations before they are Gazetted into law. The key proposed changes? The definition of "applicant" no longer includes MPRDA section 11 applicants, a welcomed relief for …
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Government Gazette
41. Financial provision for remediation of environmental damage 42. Management of residue stockpiles and residue deposits 43. Closure certificate 50 44. Removal of buildings. structures and other objects 45. Minister's power to recover costs in event of urgent remedial measures 46. Minister's power to remedy environmental damage in certain ...
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10 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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THE MINING INDUSTRY PROMOTES SUSTAINABILITY …
To give context to the magnitude of the amount provided by the mining companies, in 2019, the total mining sector contributed R376 billion to the South African economy, which …
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10 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. The calculation of closure costs is based on Figure 10.1, project description (Chapter.
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Environmental management and rehabilitation under the …
Environmental Management and Rehabilitation under the MPRDA. 189. mining-related activities.8 Made effective in May 2004, the MPRDA created an 'even grander and more elaborate new order'9 in mining law, reflecting ... while the MPRDA is a relatively new statute with some of its provisions not yet having been properly tested, applied or ...
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Spotlight: the legal framework and licensing regime for mining …
In terms of Section 24 of NEMA, the holder of a prospecting right, mining right or mining permit must provide acceptable financial provision for the rehabilitation, closure and ongoing post ...
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