Treasury needs to see how important it is for South Africa to keep mining going
The National Treasury needs to acknowledge how much more the South African economy could get out of mining if it just did what Canada does to promote exploration.
For some reason, the flow-through scheme can gain no traction with the National Treasury, even though it is a proven method of promoting invaluable economic activity through exploration and mining. In the wake of South Africa’s recent looting and property destruction, it is mining that has saved the day by surprising on the upside with huge flows of tax to the fiscus.
Trevor Manuel was right to promise the flow-through scheme when he was Minister of Finance. It is a pity that the National Treasury then tried to reinvent the wheel and concocted a homegrown failure that nobody in exploration took up. Without exploration, South African mining is destined to die except at the informal level. With a flow-through scheme, it will boom at the formal level.
There are already far too few mining companies on the JSE, which owes its very existence to mining, and far too many unlisted mining companies operating below the radar. The current situation of mining failing to be heard by the National Treasury should be brought to a rapid end for the good of the South African people.
Comments
Latest Multimedia
Latest News
Showroom
Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points
VISIT SHOWROOM
FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
