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New S. Africa mining royalties

18 February 2010

by IM prices reporter

Postponed royalties to be introduced on 1 March; rate set at 5% of operating margin

South Africa’s Treasury is set to impose mining royalties on all minerals from 1 March almost a year after the royalties were due to be introduced.

 

The introduction of royalties was due to be levied in May 2009 but was postponed due to the impact of the recession on commodity prices and in turn, the nation’s already struggling mining companies.  ...