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Friday, 18th February 2005 (4231 views)

A South African minister has revealed that gold mining companies could face a proposed target of 20 per cent of their gold production for beneficiation.<br/><br/>Minerals and energy minister Phumzile Mlambo-Ngcuka told reporters that, although the target has not yet been finalised, the Department of Minerals and Energy (DME) had recently finalised a study on gold, in collaboration with the gold producers, in which it had been determined that the "quantum of beneficiation" per company would be around the indicative level of 20 per cent.<br/><br/>The minister stressed that the 20 per cent level was only a proposal and the final level of beneficiation would be determined by also considering the overall capacity of South Africa to beneficiate the commodities concerned.<br/><br/>Speaking during a media briefing week in Cape Town on the topic of mining beneficiation, she explained that studies would be conducted on each commodity to determine the appropriate level of beneficiation.<br/>Ms Mlambo-Ngcuka added that export tax was currently being determined by the National Treasury and would be included in a new Money Bill.<br/><br/>She also sought to reassure mining companies that they were being offered options as to how to approach beneficiation and announced that the government was looking at opening up various centres for beneficiation activities for different commodities across the country.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=7831635"/>

 

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