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

Notices

Codes of Good Practice for the Minerals Industry

3. Application of the Code of Good Practice for Permits/Licences granted under the Precious Metals Act, 2005, and the Diamonds Act, 1986, as amended

 

3.1 Proposed framework for applying the Code of Good Practice permits/licences granted under the Precious Metals Act, 2005, and the Diamonds Act, 1986, as amended

 

EXEMPT FROM THE FOLLOWING

CATEGORY

METAL USAGE IN KG/ANNUM

% OF TOTAL INDUSTRY TURNOVER REPRESENTED

BEE OWNERSHIP

REQUIRED TO ADHERE TO THE FOLLOWING

Procurement

Student & Micro Businesses

1.5kg/annum Estimated max turnover

Less than R1 million

Combined with small business = between 1 and 16%

Estimated 27% of permits based on industry feedback and MQA skills analyses: reference Kaiser Associates

Human Resource Development

Employment Equity

Ownership & joint venture

Employment Equity

Small Businesses

Between 1.5 kg and 5kg/ annum

Estimated max turnover R1 million to 3.8 million

Combined with Students and Micro Enterprises = between 1 and 16%

Estimated 26% and 30% of permits based on industry feedback and MQA skills analyses: reference Kaiser Associates

Procurement

 

 

 

Ownership & joint venture

Human Resource Development

Medium and Large Businesses

Between 5kg and up

annum Estimated

max turnover Greater than R3.8 million

19-24% - 65% reference Gold in South Africa

Estimated 0% of permits based on industry feedback and MQA skills analyses: reference Kaiser Associates

Human resource development

Employment Equity

Procurement

Ownership & Joint Venture

 

NB: The turnovers are estimated and subject to the change in metal price as well as changes in the Rand Dollar exchange rates. It is for that reason that we define the industry in terms of metal usage rather than turnover. The turnover here is provided as illustration values.