South Africa: Draft minerals law sparks concern over effect on oil
Issue 249
- 28 Feb 2013
| 2 minute read
Concerns have been raised about plans to revise minerals legislation that would see the disbanding of the regulatory Petroleum Agency SA and give the state the right to a free carried interest in new contracts. The draft Mineral and Petroleum Resources Development Amendment 2012, which is chiefly aimed at reforming the mining industry, delegates all functions currently exercised by the Petroleum Agency to ‘regional managers’ of the Department of Mineral Resources who are responsible for handling mining applications.
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