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

Chapter 2 : Fundamental Principles

3. Custodianship of nation's mineral and petroleum resources

 

(1) Mineral and petroleum resources are the common heritage of all the people of South Africa and the State is the custodian thereof for the benefit of all South Africans.

 

(2) As the custodian of the nation’s mineral and petroleum resources, the State, acting through the Minister, may—
(a) grant, issue, refuse, control, administer and manage any reconnaissance permission, prospecting right, permission to remove, mining right, mining permit, retention permit. technical co-operation permit, reconnaissance permit, exploration right and production right; and
(b) in consultation with the Minister of Finance, prescribe and levy, any fee payable in terms of this Act.

[Section 3(2)(b) substituted by section 3(a) of the Mineral and Petroleum Resources Development Amendment Act, 2008]

 

(3) The Minister must ensure the sustainable development of South Africa’s mineral and petroleum resources within a framework of national environmental policy, norms and standards while promoting economic and social development.

 

(4) The State royalty must be determined and levied by the Minister of Finance in terms of an Act of Parliament.

[Section 3(4) inserted by section 3(b) of the Mineral and Petroleum Resources Development Amendment Act, 2008]