SA mining industry decimated by regulatory uncertainty – EUSTACE DAVIE
Parliament should review the minerals and mining legislation and regulations as a first step towards having its members meet their obligations under the oath they swore to uphold the Constitution. Applying the rule of law would eliminate the unconstitutional discretionary powers contained in the mining laws that are the primary cause of the uncertainty that hangs like a cloud over the South African mining industry. The benefits would be that the mining industry would regain its former economic stature, the economy would grow, investment would increase and so would employment.
Mining executives made a strong case for decreasing the regulatory uncertainty in the mining industry at the recent Mining Indaba. South African opinion makers, including the members of the embattled mining industry, should support the ideal of the rule of law and attempts to ensure that anyone involved in writing legislation and regulations does so in accordance with the law. This will only become possible if people with influence in public affairs become fully aware of what the term means, realise the significance of the fact that it is a founding provision of the Constitution, and recognise that all South African legislation and regulation must be consistent with it. These are, moreover, the individuals who must be constantly reminded of the perils of inattention.
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Publish date: 11 October 2019
The views expressed in the article are the author’s and are not necessarily shared by the members of the Foundation.