We need some clarity on mining tax capital deductions
We need some clarity on mining tax capital deductions. 16 July 2021. Owen Murphy. In last year's budget proposals, some changes to the mining tax regime were proposed by National Treasury relating to the treatment of mining contractors in response to a Supreme Court case which confirmed that mining contractors were in fact entitled to …
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If your monthly Eskom bill is R1,500, here's how much it will cost …
He also pointed to the recent price hike trends by the National Energy Regulator of South Africa's (Nersa) – up 17.9% last year, and in 2022, the average increase is expected to be 17.1% and ...
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High-capacity coal trucks to reduce costs and emissions at South Africa
This at least provides an indication of actual business-incurred costs associated with carbon emissions in South Africa at present, while noting that the actual costs are likely much higher. South Africa introduced a carbon tax in 2019 at a rate of R 120 per tonne with increases by the 2% over the consumer price inflation index per year ...
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South Africa
The 5% depreciation rate is available to the taxpayer provided that the unit is used by the taxpayer solely for trade purposes, the unit is situated in South Africa, and the taxpayer owns at least five units in South Africa used for the purposes of trade. An additional allowance is available for a low-cost residential unit.
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SOUTH AFRICA
In South Africa the liability to pay mining royalties arises when mineral resources which have been extracted from within the Republic, ... Transport, insurance and handling costs of mineral resources incurred after refinement to the condition or stated in Schedule 1 …
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Anticipating and planning for mine closure in South Africa
Most of the mine closures in South Africa over the past two to three decades have been in the gold mining industry. Employment in the industry dropped from 550 …
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ECONOMICS OF MINING
CHAMBER OF MINES OF SOUTH AFRICA ... KEY COST DRIVERS IN MINING - AVERAGE ANNUAL RATE OF INCREASE IN COSTS 2013-2016 Source: Stats SA (2017) ... and input costs incurred in the production of its commodities. Total production is estimated to have been R570 billion in 2016, with labour costs absorbing around 26% …
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(PDF) The external costs of coal mining: The case of …
The results of the study disclosed that coal mining and transportation will inflict costs to both the environment and humans of between R6 538 million and R12 690 million per annum, or between 20. ...
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Mining industry in South Africa
Since then, the mining industry has become hugely important to the country, contributing roughly 219.5 billion South African Rand (roughly 12.8 billion U.S. dollars) in 2021 to South Africa's ...
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Focus: South African coal miners turn to trucks as rail service
Mineral exporters lose $2.2 bln in potential sales -survey; Glencore among miners resorting to trucks rather than rail Trucking costs four times as much as rail freight
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SA Mine 2023 | Press release
For the first six months of 2023, South African Revenue Service export data shows that the value of mined material exports amounted to R575bn. This equates to …
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Comparative analysis on costs and benefits of producing natural …
The costs incurred are landfill charges, transportation costs, other air emissions costs, the water emission (leachate) cost, carbon-dioxide (CO 2) cost, and the disamenity associated cost. Cost of landfill disposal: a disposal fee of US$ 15.52 per tonne of waste material sent to a landfill site in Johannesburg Metropolitan Municipality of ...
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A Guide to the dtic Incentive Schemes 2020/21
costs are incurred. Financial assistance under the Matching Scheme is provided to large companies on a 50% matching basis. Criteria for SPII support • Development should represent a significant advance in technology. • Development and subsequent production must take place within South Africa.
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REPUBLIC OF SOUTH AFRICA IN THE TAX COURT OF …
REPUBLIC OF SOUTH AFRICA . IN THE TAX COURT OF SOUTH AFRICA . HELD AT . MEGAWATT PARK, JOHANNESBURG. CASE NO: IT. 24606. In the matter between: ABC MINING (PTY) LTD Appellant . and . THE COMMISSIONER FOR THE . SOUTH AFRICAN REVENUE SERVICE Respondent . JUDGMENT . Before: Windell J (President); N …
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How organised crime is blighting South Africa's economy
Crime data show the impact. In the first half of the 2010s there was a 60% drop in the number of arrests and an 83% fall in convictions. The murder rate fell by more than half from 1994, when ...
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ESTIMATION OF CAPITAL COSTS FOR ESTABLISHING …
to estimate capital costs in South Africa. The parametric estimating technique was used to estimate capital costs in this study. Finally, six formulae were initially developed to …
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Logistics opportunity costs: A mining case study
Survey for South Africa indicated that transport costs were accountable for 7.7 % and 7.8 % of the country's GDP in 2011 and 2012 respectively (Havenga & Simpson 2013). The importance of the
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A cost-benefit analysis of implementing a 54 MW solar PV plant …
The South African platinum mining industry relies heavily on a consistent and cost-effective supply of electricity to optimise production (Ryan, 2014; Shaw et al., 2019; Mahony et al., 2018). The primary supplier of electricity currently in South Africa is the national utility Eskom, with the state-owned enterprise supplying 95% of the country ...
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How does the mining sector impact the South African economy?
Mining contributes 11% of gross capital creation but also 16% of total direct foreign investment in South Africa. Despite accounting for just 0.3 percent of taxpayers, …
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Platinum Cost Curves
South African platinum mines accounted for 73% of global platinum production during 20. Not one South African platinum mine had an all-in sustaining cost ("AISC") higher than the average 2020 price. USD -denominated AISC per Pt. eq. oz …
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Platinum Cost Curves
national, regional, or international level. South Africa produced 73% of global platinum during 2020 and is the main constituent of costed mine production. Minxcon used the …
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NOTES
they did at Wesselton mine in March 1894 when three miners were shot dead by the Kimberley Mounted Police and compound guards • Migrant Workers and Mining o "Migrant labour" in South Africa referred not only to workers coming into South Africa from neighbouring countries, but also to a system of controlling African workers within South …
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Violent crime, rising costs put South Africa's mining industry in a
Violent crime, rising costs put South Africa's mining industry in a deep hole. ALEXANDRA WEXLER, The Wall Street Journal 6 min read 18 Jan 2022, 09:02 PM IST.
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A review of problems and solutions of abandoned mines in South Africa
In South Africa, Mhlongo and Amponsah-Dacosta (2016) underscored the significance of developing uniform abandoned mines evaluation standards and models for estimating rehabilitation costs ...
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Rehabilitation Plan and Closure Cost Estimate for the De …
Rehabilitation Plan and Closure Cost Estimate for the De Groote Boom Mining Area UAR2967 Digby Wells Environmental 1 1 Introduction Mining in South Africa is renowned as a key element of economic development. However, this significant economic development is shadowed by the environmental damage caused by the mining operations.
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New independent utility emerges to pursue private-to-private …
0:00 / 4:35. 1X. A new independent power utility has been established in South Africa to sell electricity directly to private and municipal customers rather than to Eskom. Branded Earth & Wire ...
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Frontiers | The regional implications of just transition in the world's
1. Introduction. South Africa has the dubious distinction of being the most coal-dependent country in the G20–the international group representing 20 major economies–because it relies on coal for the generation of 89% of its electricity, placing it well ahead of India (74%) and China (68%) and significantly ahead of the 41% average dependence for the whole …
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Financial Reporting in the Global Mining Industry
costs and mine development, the amortisation of capitalised costs, the issue of impairment, provisions for costs to be incurred after mine closures, establishing fair values in a business combination and reporting interests in joint undertakings. We also looked into an area not addressed ... Australia and South Africa, respectively. (3) Not ...
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An analysis of the tax implications of prospecting …
Income Tax Act or merely cost s incurred for the possible or pote ntial ... government The Green Paper on a Minerals and Mining Policy for South Africa released for public discussion in February ...
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South Africa: Mining operating expenses 2023 | Statista
Oct 16, 2023 In 2023, employment benefits and contractors accounted for a 33 percent share of the total South African mining industry operating expenses. This was followed by consumables and...
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