RECOGNISING that minerals and petroleum are non-renewable natural resources;

ACKNOWLEDGING that South Africa’s mineral and petroleum resources belong to the nation and that the State is the custodian thereof;

AFFIRMING  the State’s obligation to protect the environment for the benefit of present and future generations, to ensure ecologically sustainable development of mineral and petroleum resources and to promote economic and social development;

RECOGNISING  the need to promote local and rural development and the social upliftment of communities affected by mining;

REAFFIRMING  the State’s commitment to reform to bring about equitable access to South Africa’s mineral and petroleum resources;

BEING COMMITTED  to eradicating all forms of discriminatory practices in the mineral and petroleum industries;

CONSIDERING  the State’s obligation under the constitution to take legislative and other measures to redress the results of past racial discrimination;

REAFFIRMING the State’s commitment to guaranteeing security of tenure in respect of prospecting and mining operations and

EMPHASISING the need to create an internationally competitive and efficient administrative and regulatory regime,

BE IT THEREFORE ENACTED by the Parliament of the Republic of South Africa, as follows: