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  4. > South Africa’s Mining Fiscal Regime: H1 2016

South Africa’s Mining Fiscal Regime: H1 2016

  • March 2016
  • -
  • Global Data
  • -
  • 20 pages

Synopsis
Timetric’s South African fiscal regime covers the governing bodies, laws, rights and obligations and tax-related information on 11 commodities: coal, iron ore, copper, zinc, gold, nickel, chromium, uranium, diamond, manganese and platinum.

Summary
Timetric's fiscal regime report covers South Africa, which is well known for its abundance of mineral resources. It holds prolific mineral reserves of gold, platinum group metals, manganese ore, zirconium, vanadium and titanium

Scope
The report outlines the governing bodies, laws, rights and obligations and key fiscal terms which includes royalties, depreciation, corporate tax, capital gains tax, dividend tax, withholding tax and value added tax(VAT)

Reasons To Buy
Gain an overview of South Africa’s mining fiscal regime

Key Highlights
- The Department of Mineral Resources (DMR) formulates and implements mining policy, and ensures the exploration, development, utilization, processing and management of the country’s mineral resources.

- The Department of Energy is responsible for overseeing the exploration, development, utilization, processing and management of South Africa’s energy resources.

- The National Nuclear Regulator is the public entity formed under the National Nuclear Regulator Act of 1999.

- The Minerals and Petroleum Resources Development Act (MPRD Act No. 28 of 2002) mandates the state as the custodian of mineral resources.

Table Of Contents

South Africa’s Mining Fiscal Regime: H1 2016
Table of Contents
1 Executive Summary
2 The South African Mining Industry - Governing Bodies
2.1 Department of Mineral Resources (DMR)
2.1.1 Council for Geo-science
2.1.2 Council for Mineral Technology (Mintek)
2.1.3 Mining Qualifications Authority
2.1.4 South African Diamond and Precious Metals Regulator
2.1.5 State Diamond Trader
2.2 Department of Energy
2.3 National Nuclear Regulator (NNR)
2.4 Mine Health and Safety Council
3 The South African Mining Industry - Governing Laws
3.1 Minerals and Petroleum Resources Development Act
3.2 Mineral and Petroleum Resources Royalty Act, 2008
3.3 Precious Metals Act, 2005
3.4 Nuclear Energy Act, 1999 (Act No.46 of 1999)
3.5 National Nuclear Regulator Act, 1999 (Act No. 47 of 1999) (NNR)
3.6 Mine Health and Safety Act, 1996 (Act No. 29 of 1996)
3.7 Diamond Export Levy (Administration) Act, 2007
3.8 Broad-Based Black Economic Empowerment Amendment Act, 2013
4 The South African Mining Industry - Prospecting and Mining Rights
4.1 Application for a Prospecting Right or a Mining Right
4.2 Prospecting Right
4.2.1 Conditions
4.2.2 Rights
4.2.3 Duration
4.2.4 Renewal
4.3 Mining Right
4.3.1 Conditions
4.3.2 Rights
4.3.3 Duration
4.3.4 Renewal
5 The South African Mining Industry - Prospecting and Mining Obligations
5.1 Prospecting Rights Holders
5.2 Mining Right Holders
5.3 Retention Right Holders
5.4 Environmental Protection and Assessment
5.5 Issuance of a Closure Certificate
5.6 Cancellation and Suspension of Rights
6 The South African Mining Industry - Key Fiscal Terms
6.1 Royalties
6.2 Depreciation
6.3 Corporate Tax
6.4 Capital Gains Tax
6.5 Dividend Tax
6.6 Withholding Tax
6.7 Value Added Tax (VAT)
7 The South African Mining Industry - Future Development
8 Appendix
8.1 Abbreviations
8.2 Secondary Research
8.3 Primary Research
8.4 Contact Timetric
8.5 About Timetric
8.6 Timetric's Services
8.7 Disclaimer

List of Tables
Table 1: The Mining Industry in South Africa - Key Taxes and Rates, 2016
Table 2: The Mining Industry in South Africa - Depreciation Years, 2016

List of Figures
Figure 1: The Mining Industry in South Africa - Commodity Mines at Different Stages (Number of Mines), 2016

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