Mineral and Petroleum Resources Development Act, 2002 (Act No. 28 of 2002)

Chapter 2 : Fundamental Principles

Purchase

The objects of this Act are to—

(a)	recognise the internationally accepted right of the State to exercise sovereignty over all the mineral and petroleum resources within the Republic;

(b)	give effect to the principle of the State’s custodianship of the nation’s mineral and petroleum resources;

(c)	promote equitable access to the nation’s mineral and petroleum resources to all the people of South Africa;

(d)	substantially and meaningfully expand opportunities for historically disadvantaged persons, including women and communities, to enter into and actively participate in the mineral and petroleum industries and to benefit from the exploitation of the nation’s mineral and petroleum resources;

[Section 2(d) substituted by section 2 of the Mineral and Petroleum Resources Development Amendment Act, 2008]

(e)	promote economic growth and mineral and petroleum resources development in the Republic, particularly development of downstream industries through provision of feedstock, and development of mining and petroleum inputs industries;

[Section 2(e) substituted by section 2 of the Mineral and Petroleum Resources Development Amendment Act, 2008]

(f)	promote employment and advance the social and economic welfare of all South Africans;

(g)	provide for security of tenure in respect of prospecting, exploration, mining and production operations;

(h)	give effect to section 24 of the Constitution by ensuring that the nation’s mineral and petroleum resources are developed in an orderly and ecologically sustainable manner while promoting justifiable social and economic development; and

(i)	ensure that holders of mining and production rights contribute towards the socio-economic development of the areas in which they are operating.