Lawyer warns against proposed mining law

He said an amendment to the Mineral and Petroleum Resources Development Act was likely to be approved by the National Assembly this month. It was likely to become law this year. The Bill, amended by the portfolio committee in June and published this week, would serve to discourage investment, he said. ‘It’s a catalogue of investment disasters.’ According to Business Day, he said the government, instead of putting out a welcome mat, was ‘creating a regulatory obstacle course’ with the new legislation. He said this was contrary to its promises to remove constraints to growth. Leon said the sector was vital to the economy, as it contributed to reducing the current account deficit. However, without a friendly regulatory environment, SA would lose out on investment. Full Business Day report