[miningmx.com] — THE first round of bidding for lapsed or revoked mining rights would take place before the end of June.
This came after the Minister of Mineral Resources, Susan Shabangu, published a notice in February in the Government Gazette inviting submissions on proposals for a rights auctioning system.
“After due consideration, I have decided to issue a proclamation in the Government Gazette which will invite applications on revoked or lapsed rights,’ Shabangu to parliament on Thursday during her Budget Vote. “In this regard, rules that are aligned with the MPRDA will be clearly spelt out in the Gazette.’
STATE MINER
Shabangu also told parliament that the state-owned mining company, African Exploration and Mining Finance Corporation (AEMFC), is about to undertake a second project which is now in a ppst-feasibility phase. The project aims to produce 4.6 million tonnes of coal per year over 33 years, and would create almost 1,000 jobs.
She said AEMFC’s pilot project, the Vlakfontein colliery near Ogies in Mpumalanga, has so far produced 681,458 tonnes of coal and sold 468,554 tonnes since it came into operation in the middle of last year.
“I must once again reiterate our intention not to create any special dispensation for AEMFC,’ Shabangu told journalists prior to her Budget Vote address. “It must be able to raise its own capital and operate in a way as any other company does to stand on its own legs.’
She said Cabinet has already approved the operating model and the hiving off of AEMFC from the Central Energy Fund.
