Mining legislation framework under review
Mining Minister Susan Shabangu says they are reviewing possible amendments to mining laws.
CAPE TOWN - Mining Minister Susan Shabangu on Tuesday told industry players that South Africa has been reviewing its mining legislation framework and amendments to the law will go to Parliament for discussion.
She was addressing business people at the Mining Indaba in Cape Town earlier.
The conference comes after a difficult year for the country's mines which have been hit by wildcat strikes, job losses and shut downs.
Global investors watched closely as Shabangu delivered her keynote address.
She began by assuring them that nationalisation is not government policy.
This follows calls by the ANC Youth League to nationalise mines in a bid to redistribute wealth.
Last year the league pushed for nationalisation and the expropriation of land without compensation.
However, the ruling party rejected this during its conference in Midrand.
Shabangu then spoke about the review of South Africa's mining legislation framework.
She said proposals on amendments to the Mineral and Petroleum Resources Development Act have been gazetted.
"Let me reiterate that our focus on amendments is to amongst others remove ambiguities in the act that previously created room for a multiplicity of interpretations."
The amendments will be discussed in Parliament.
The mining industry had a tough year in 2012.
It saw numerous strike actions and the death of 44 miners in Marikana in August.
The miners were demanding better salaries.
They died during clashes with police.
President Jacob Zuma has since set up a commission to investigate the bloodbath.