South Africas Mining Fiscal Regime: H2 2014

 Table Of Content

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 The 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 Energy Laws Rationalisation Act, 1994
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 Rights
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 Real Property Tax
6.7 Withholding Tax
6.8 Branch Profits Tax
6.9 Loss Carry Forward
6.10 Value Added Tax (VAT)

7 Future Development
7.1 Amendments to the Broad-Based Black Economic Empowerment Act

8 Appendix
8.1 Abbreviations
8.2 Methodology
8.3 Secondary Research
8.4 Primary Research
8.5 Contact Timetric
8.6 About Timetric
8.7 Timetric’s Services
8.8 Disclaimer

List of Tables
Table 1: The Mining Industry in South Africa – Fiscal Regime Terms and Other Taxes, 2014
Table 2: The Mining Industry in South Africa – Depreciation Years, 2014

List of figures
Figure 1: The Mining Industry in South Africa – Commodity Mines at Different Stages (Number of Mines), 2014

 

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