South Africa’s Ministry of Finance is set to release the new Money Bill or mining royalty system to the public before the end of March, Finance Ministry representative Logan Wort said on Thursday.
“The Money Bill will be introduced to the cabinet within the next few weeks and after that it will be released to the public. The minister didn’t mention so,” Wort added.
The mining industry had been looking out for an indication of royalty levels from Manuel during his presentation of the 2003-04 budget after Mineral and Energy Affairs Minister Phumzile Mlambo-Ngcuka last week stated that news would be forthcoming in the Budget speech.
The National Treasury has been working on the Money Bill, which contains the the Money Bill in his Budget speech as he didn’t think it was relevant to do provisions for the mining royalty structure. – I-Net-Bridge