Just doing a bit of research on the mining right process in SA
and thought a few points were of interest in this article about
Ivanhoes Platreef project which is spruking its recent mining right situation.
press release June 5, 2014, 2:36 a.m. EDT
"Long-Term Mining Right for Ivanhoe Mines' Platreef Project Approved by South Africa's Department of Mineral Resources"
this part...
"The Department of Mineral Resources notified Ivanhoe Mines on Friday, May 30, that Platreef's mining right had been granted. Ivanhoe now has the right to mine and process all platinum group metals, nickel, copper, gold and certain associated metals and minerals from the Platreef Project mining area, subject to the company complying with the terms on which the mining right was granted - including the requisite environmental management program becoming effective, which is expected in due course. It also is expected that the mining right, when executed, will be for an initial period of up to 30 years and will be renewable for an unlimited number of consecutive periods each of up to 30 years." continues
and
"Agreement also was reached on acceptable terms for a B-BBEE participation structure that were progressively refined and optimized to ensure that the resulting partnership would deliver long-term benefits to local communities and entrepreneurs, as well as to Platreef's employees. In terms of Platreef's mining right, the B-BBEE partners will own a combined 26% of the Platreef Project.." continues
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That sounds like they have an environmental management program ....expected ie not available? yet.
sounds similar...if I remember that NKWE advertisement in the gazette correctly.
and wouldnt it be nice to have a time span, a long time span, like 30years being able to be announced?
Why isnt the term of the mining right announced in Nkwes case but Ivanhoe Mines have a term thats renewable given?
I cant remember such a term announced but I do remember the awarding of a mining right....or have I misunderstood just what was announced re Garatau Project. Notorization seems to be what both Ivanhoe and NKWE are now waiting for but once again there could be differences that I am not aware of.
second paragraph about their " B-BBEE participation structure that were progressively refined and optimized"
Nkwe has been refining and refining and I hope will deliver for 50 years+. Not in 50years +.
Water needs to be flowing freely and I hope that the pumps a fixed,,eskom needs help and I suppose we need all the ducks in a row too start swimming nicely.
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Had a look at Zim out of interest and see there is interest in new ventures there...
