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REGULATIONS
FINANCIAL PROVISION FOR PROSPECTING, EXPLORATION,
MINING OR PRODUCTION OPERATIONS
MacRobert wishes to draw your attention to the following important notice
published on 20 November 2015
| Notice |
1147 |
| Gazette |
39425 |
| Date |
20 November 2015 |
The Minister of Environmental Affairs has published regulations for financial provision in respect of prospecting, exploration, mining and production operations in terms of sections 44(aE),(aF),(aG), (aH) read with sections 24(5)(b)(ix), 24(5)(d), 24N, 24P and 24R of the National Environmental Management Act 107 of 1998 ("NEMA").
The purpose of these regulations is to regulate the determination and making of financial provision as contemplated in the NEMA for the costs associated with the undertaking of management, rehabilitation and remediation of environmental impacts from prospecting, exploration, mining or production operations through the lifespan of such operations and latent or residual environmental impacts that may become known in the future.
These regulations provide for, inter alia, -
- The method for determining financial provision;
- The financial vehicle for financial provision;
- Regulations pertaining to placing a site under care and maintenance; and
- Transitional arrangements associated with financial provision provided for in terms of the Mineral and Petroleum Resources Development Act 28 of 2002 and its associated regulations.
For any queries you are welcome to contact our environmental and mining law division:
Kenneth Cameron
(012) 425 3514
kcameron@macrobert.co.za
Caroline Pepermans
(012) 425 3522
cpepermans@macrobert.co.za
Palesa Matsheka
(012) 425 3587
pmatsheka@macrobert.co.za
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