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  • Financial Provisioning Regulations Mining Review

    2021-5-3 · In terms of the extension notice, the applicable Mineral and Petroleum Resources Development Act (MPRDA) rights holders now have until 19 June 2021 to comply with the Financial Provisioning Regulations and shall, until this date, be regarded as having complied with the Financial Provisioning Regulations if compliant with the financial provisioning requirements applicable under the approved MPRDA

  • FINANCIAL PROVISION SAHRIS

    2018-1-20 · 1.2. MPRDA Financial Provision Legislation According to Section 41(3) of the Mineral and Petroleum Resources Development Act, 2002 (Act No. 28 of 2002) the Department of Minerals Resources (DMR), as well as Regulations 53 and 54 promulgated

  • Financial Provision Regulations 2019 Environment

    2019-10-3 · Section 41 of the MPRDA (which has subsequently been repealed) required the holder of a mining right ("the Holder") to make financial provision through the mechanisms and by determining the quantum (amount) in accordance with MPRDA Regulations 53 and 54.

  • Financial Provisioning Regulations, 2017 Werksmans

    2017-12-6 · 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 “)

  • Concepts for the Regulations Pertaining to the Financial

    mining activities were regulated in terms of the MPRDA • In 2008 agreement to align the environmental function of mining • Related to financial provision the agreement entailed Environmental function of mining to be regulated under NEMA –Changes were made to NEMA 24P –Financial provision for remediation of environmental damage

  • New financial provision regulations promulgated for

    As is the case in most if not all mining jurisdictions, to operate within the extractives sector in South Africa companies have been required to make financial provision for the closure and rehabilitation of mining operations. Recent changes to the applicable law impose stricter requirements relating to the calculation of the financial provision.

  • Explanatory note i.t.o. the Regulations Pertaining to the

    2017-11-27 · The retain ing of a portion of the financial provision •when a closure certificate is issued does not align with section 43(1) of the MPRD Act. The MPRDA never made provision for retaining financial provision post closure. Holders remained liable only until a closure certificate was issued by the Minister responsible for mineral resources.

  • Financial Provision Regulations 20Nov2015 Warburton

    2015-12-2 · the financial provision. Where the financial provision applies to the remediation of latent or residual environmental impacts which may become known in the future, upon the issuance of the Closure Certificate in terms of the MPRDA, such financial provision must be ceded to the Minister.

  • MINERAL AND PETROLEUM RESOURCES DEVELOPMENT

    ―(2) Notwithstanding subsection (1), any provision relating to prospecting, mining, exploration and production and related activities comes into operation on a date 18 months after the date of commencement of— (a) section 2; or (b) the Mineral and Petroleum Resources Development Amendment Act, 2008, whichever date is the later.‖

  • MINERALAND PETROLEUM RESOURCES DEVELOPMENT

    2006-8-18 · ‘‘fi nancial provision’’ means the insurance, bank guarantee, trust fund or cash that applicants for or holders of a right or permit must provide in terms of sections 41 and 89 guaranteeing the availability of sufficient funds to undertake the agreed

  • Regulations Pertaining to the Financial Provision for

    2016-3-30 · MPRDA •In 2008 agreement to align the environmental function of mining •Related to financial provision the agreement entailed Environmental function of mining to be regulated under NEMA –Changes were made to NEMA 24P Financial provision for remediation of

  • FINANCIAL PROVISIONING REGULATIONS, 2017

    2018-12-12 · Resources Development Act (“MPRDA”) Regulations, 2004. The 2015 Regulations were immediately applicable to applicants financial provision to be set aside double accounting; and for a prospecting right, mining permit, mining right, exploration right or production right (i.e. new applicants). Holders and holders

  • South Africa: Mining 2020 Lexology

    The MPRDA and the Mining Titles Registration Act, 1967 both provide that reconnaissance, prospecting and mining rights are capable of being held in undivided shares. Financial provision could

  • Financial Provisioning Regulations, 2017 Werksmans

    2017-12-6 · The aforementioned consultation has now culminated in the publication, on 10 November 2017, of the new “Proposed Regulations Pertaining to the Financial Provision for Prospecting, Exploration, Mining or Production Operations” GNR 1228 GG 41236 of 10 November 2017 (“Draft Regulations“),which seek to repeal the 2015 Regulations. Comments

  • SOUTH AFRICA: MINING 2020 Africa notes

    Unlike the MPRDA and the MPRDA Regulations, the FP Regulations require that financial provision must be made for “annual rehabilitation, as reflected in the annual rehabilitation planfinal rehabilitation, decommissioning and closure of the mining operations at the end of the life of operations, as reflected in the final rehabilitation

  • New financial provision regulations promulgated for

    As is the case in most if not all mining jurisdictions, to operate within the extractives sector in South Africa companies have been required to make financial provision for the closure and rehabilitation of mining operations. Recent changes to the applicable law impose stricter requirements relating to the calculation of the financial provision.

  • 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 Minerals Act, 1991 (Act 50 of 1991). Section 41 of the MPRDA and regulations 53 and 54 promulgated in terms of the MPRDA deal with financial provision for

  • MINERAL AND PETROLEUM RESOURCES DEVELOPMENT

    Page 1 of 104 (7 June 2013 to date) [This is the current version and applies as from 7 June 2013, i.e. the date of commencement of the Mineral and Petroleum Resources Development Act 49 of 2008 to date] MINERAL AND PETROLEUM RESOURCES DEVELOPMENT ACT 28 OF 2002 (Gazette No. 23922, Notice No. 1273 dated 10 October 2002.

  • FINANCIAL PROVISION SAHRIS

    2018-1-20 · financial provision. Officials in the DMR Regional Offices are required to assess, review and approve the quantum of financial provision submitted (that is, the monetary value of the financial provision that has been computed by the holder of a prospecting right, mining

  • Mining Rehabilitation A Regulated Activity Energy

    Section 41 of the MPRDA prescribes financial provision for the remediation of environmental damage. Before the minister approves an EMPr or EMP, the applicant for a prospecting right, mining right or mining permit must make the prescribed financial provision for the rehabilitation or management of negative environmental impacts.

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