South Africa Mining Industry Fiscal Regime Analysis – Governing Bodies, Regulations, Licensing Fees, Taxes, Royalties, 2023 Update

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South Africa Mining Industry Report Overview

South Africa has an abundance of mineral resources including gold, platinum group metals (PGM), manganese, iron ore, copper, nickel, diamond, and coal. The South Africa mining industry report provides comprehensive coverage of South Africa’s fiscal regime in the concerned sector. The report focuses on key aspects such as governing bodies, laws and regulations, governance frameworks, and sustainability practices. A detailed overview of mining-related taxes and royalties is also included in the report. These critical topics will help improve business performance and reach desired goals.

Governing Bodies •       Department of Mineral Resources and Energy (DMRE)

•       Department of Energy (DoE)

•       National Nuclear Regulator (NNR)

•       Mine Health and Safety Council (MHSC)

•       Department of Environmental Affairs

Key Laws •       Minerals and Petroleum Resources Development Act

•       Mineral and Petroleum Resources Royalty Act

•       Precious Metals Act

•       Nuclear Energy Act

•       Mine Health and Safety Act

Taxes and Royalties •       Carbon Tax

•       Corporate Income Tax (CIT)

•       Individual Income Tax

•       Value-Added Tax (VAT)

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South Africa Mining Industry - Governing Bodies

The South Africa mining industry is governed and regulated by several authorities, which focus on aspects such as administration, environment, health, and safety. A few of the chief agencies include the Department of Mineral Resources and Energy (DMRE), Department of Energy (DoE), National Nuclear Regulator (NNR), Mine Health and Safety Council (MHSC), and Department of Environmental Affairs. The DMRE is the primary organization that regulates the country’s mining industry.

Department of Mineral Resources and Energy (DMRE): The DMRE was established in June 2019 by the merger of the Department of Energy and the Department of Mineral Resources. The department is responsible for the mining industry of South Africa, the exploitation of the country’s mineral resources, and the energy industry. The primary objective of DMRE is to develop measures to promote energy saving, reduce the negative impact of energy use on the environment, and contribute toward sustainable development among others.

Governing Bodies in South Africa Mining Industry

Governing Bodies in South Africa Mining Industry

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South Africa Mining Industry – Mining Laws

The main laws governing the mining industry of South Africa are the Minerals and Petroleum Resources Development Act, Mineral and Petroleum Resources Royalty Act, Precious Metals Act, Nuclear Energy Act, and Mine Health and Safety Act among others.

Minerals and Petroleum Resources Development Act: The act, enacted in 2002 (MPRD Act) (No. 28 of 2002), mandates the state as the custodian of mineral resources. The state has the authority to grant prospecting and mining rights to contractors. The financial provision for the environmental rehabilitation and closure requirements of mining operations forms an integral part of the act. There are four principal authorizations available under the MPRD Act, concerning minerals including reconnaissance permits, prospecting rights, retention permits, and mining rights. Mining rights are granted for a maximum period of 30 years and can be renewed an indefinite number of times for the same duration.

Mining Laws in South Africa Mining Industry

Mining Laws in South Africa Mining Industry

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South Africa Mining Industry – Taxes and Royalties

The main taxes applicable in the South Africa mining industry are the Carbon Tax, Corporate Income Tax (CIT), Individual Income Tax, and Value-Added Tax (VAT) among others.

Corporate Income Tax (CIT): CIT is a tax imposed on companies that are incorporated or managed or derive income from within or outside South Africa. CIT is payable at a rate of 27%. It was reduced by 1% on April 1, 2022.

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Recent Development

  • In June 2019, the government of South Africa introduced a carbon tax to address carbon emissions in the country in a phased approach. The carbon tax initially will only be levied on scope 1 emissions. Scope 1 emissions are direct emissions that result from fuel combustion, gasification, and nonenergy industrial processes.

Scope

  • GlobalData’s “South Africa Mining Industry Fiscal Regime Analysis, 2023 Update” report provides comprehensive coverage of South Africa’s mining fiscal regime.
  • The report provides the country’s overview with macroeconomic performance, corruption index, and mineral overview.
  • The report offers comprehensive coverage of the country’s mining regulatory bodies, laws, rights, and obligations, as well as current and future tax-related proposals.

Reasons to Buy

  • Enhance your decision-making capability in a more rapid and time-sensitive manner.
  • Find out about South Africa’s governing bodies and major laws in the industry.
  • Identify various mineral licenses and fees.
  • Get a comprehensive overview of South Africa’s mining fiscal.

Table of Contents

Executive Summary

Country Overview

Mineral Overview

Government Bodies

Mining Laws, Licenses and Permits

Prospecting and Mining Rights

Mining Taxes and Royalties

Sustainable Mining Practices

Appendix

Table

Table 1: South Africa’s Mining Fiscal Regime – DMRE Programmes, 2021

Table 2: South Africa’s Mining Fiscal Regime – MHSC Committees, 2020

Table 3: South Africa’s Mining Fiscal Regime – Depreciation Write-off Period (Years), 2021

Figures

Figure 1: South Africa’s Mining Fiscal Regime – Country Overview, 2021

Figure 2: South Africa’s Mining Fiscal Regime – Nominal GDP (US$ Billion) and Real GDP Growth Rate (%), 2001-2021

Figure 3: South Africa’s Mining Fiscal Regime – Total Foreign Direct Inflow (FDI), 2015-2019

Figure 4: South Africa’s Mining Fiscal Regime – Ease of Doing Business in South Africa, Global Ranking, 2029 – 2020

Figure 5: South Africa’s Mining Fiscal Regime – Corruption Perception Index, 2016-2020

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