South Sudan

Salva Kiir Finally Signs Mining Act 2012, Into Law

pills http://corpuschristimiami.com/wp-content/plugins/jetpack/class.jetpack-post-images.php geneva;”>This is contained in a press release seen by Chimpreports on March 7, http://davescheapbikes.com/wp-admin/includes/class-wp-ms-themes-list-table.php 2013 from the Ministry of Petroleum and Mining, acknowledged by the acting undersecretary in the ministry, Mohamed Lino.


The statement went on to explore much on the long overdue Act (2012), which grants regulatory powers over the industry to the line ministry.


It provides a framework for management of the country’s mines while conforming to international best practices.


These include the licensing, environmental protection guidelines and use of technology to ensure best recovery of mineral resources. With the above ministry taking the lead in being the sole issuer of licences, analysts say this will keep a close eye on the possible dangers that could spill out of the industry.


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The mining Act comprises 26 chapters and 198 articles, which provide for among all, 6 types of licences, Security of tenure, Access use, occupation and compensation of land


Environment and social provisions, a mining cadaster office and a mines inspectorate.


The Act also repeals all the old licences, regardless of the type or issuing authority.


The reconnaissance will take 2 years duration covering an area of a maximum 25,000 Square Kilo metres and a minimum of 10 Square Kilometers while exploration will cover 5 years duration with a maximum of 2,500 Sq.Km and minimum of 10 Sq.Km (renewable for 2 terms of 5 years each).


Small-scale mining will take 10 years covering 1 Sq.Km and renewable for 10 years while large-scale mining will cover 25 year duration.


The key objectives and principles of the Act (2012) is to ensure that ownership is vested in national government, good governance (transparency and accountability),increased revenues through optimization of recovery and less wastage, environment protection safety and security of personnel and installations.


Also corporate social responsibility is included, guided by the ISO 26000.


The ministry invited all holders of cancelled licences to visit the mineral cadaster office to have old licences evaluated for fresh rights.


Title holders of qualifying licences will secure their right to apply for their respective license areas read the notice on the ministry website.


It should be known that the U.S. amended the Wall Street reform and consumer Act 1934 (Dodd-Frank section 1504) in August 2012. It warrants all mining, oil and exploration firms including telecommunications listed on the U.S. stock exchange to disclose what they pay to host governments.


This development carries a punitive fine of $100,000 and is set to commence in 2013 and 2014 where disclosure forms will be filed by companies affected.


South Sudan’s mining sector is still a growing one as few noticeable companies are in the sector apart from demining groups.

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