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ments – and his conversations with inves- definition of Black Economic Empowerment
tors at ADU – will translate into a new era for and the legality of “once empowered, always
Nigeria’s mining sector. empowered”.
“Three years from now I’d like to come here Ngoxina said there was clear evidence
and say a few investors have ventured into Ni- of the MPRDA’s success and he was even
geria’s minerals sector,” he said. “People say sanguine about the ongoing legal arguments
it is shark-infested waters but let’s see. Thor over the bill.
has done it and haven’t been eaten. The best “There’s not a single economic sector
time to come is now because our minerals comes close to mining for [achieving] trans-
are largely untapped and so, the return on formation because industry took a conscious
investment is higher.” decision to engage with government and with
the unions – led at the time by current Minis-
What the Australian miners say: Nigeria
has a lot of endowment but I think we would ter for Mineral Resources & Energy Gwede
struggle to get investors to go there, more so Mantashe,” he said. “As a result, there has
because of the perceptions than any realities. been a lot of progress in industry. If you look
Many of our investors are North American and at the black billionaires in South Africa, you
they won’t go to certain countries. will find them nowhere other than the mining
industry. If you look at black millionaires, the
Rankings: Nigeria majority are in the mining industry. They are
154 190 N Resources & Energy Dr Nobuhle Nkabane all the products of the MPRDA and the Min-
South African Deputy Minister for Mineral
ing Charter.
Transparency International Corruption Index: World Bank Ease of doing business (2020): Fraser Institute Investment Attractive Index: pursuing a transformation agenda and I was and there is no jurisprudence that has devel-
131
“The more the MPRDA goes to court, the
180
A
better for us because this is a new legislation
“At the time South Africa was aggressively
oped around the new law. Jurisprudence is
asked by the then High Commissioner of Aus-
evolving around the new law and policy, it is
tralia to South Africa to explain why Australian
important it gets formulated by the courts,
companies should pay for the sins of South
which are independent. That will result in cer-
Africa companies,” Ngoxina told Paydirt dur-
tainty and predictability of the regulatory envi-
ing ADU in his new role as special adviser to
ronment in South Africa.”
the Minister of Mineral Resources & Energy.
The legal uncertainty has hampered ex-
“I explained, that as minerals were a na-
tional patrimony, all minerals are the heritage
vestment in precompetitive geoscience data.
of all South Africans. The most important ploration, a drift intensified by a lack of in-
South African Deputy Minister for Mineral Re-
thing was that we either took the bull by the sources & Energy Dr Nobuhle Nkabane said
horns straightaway and engage the mining the Government’s new exploration strategy
South Africa sector on transformation or we leave it so it was designed to attract investors to develop
developed into a monster; a monster that
would devour future generations. So, it was South Africa’s “minerals of the future”.
Of all the countries to visit Perth, South Af- important that we began engaging with the “We hope investors have appetite because
rica has the longest relationship with ADU but mining industry at that very point.” they can see the exploration strategy,” Nka-
also perhaps the most complicated. Sixteen years on from that first appear- bane told Paydirt. “We have invested in col-
Sandile Ngoxina was director general of the ance, the South African Government remains lection of higher resolution geological data,
South African Department of Mineral Resourc- embroiled in debate over its Mineral and Pe- including radiometrics, aerial hyperspectral
es when he attended his first ADU in 2006. He troleum Resources Development Act (MPR- data and detailed structural mapping. It has
had been tasked with explaining to Australian DA) and Mining Charter, with the legislation provided a road map for reimagined explora-
investors how the post-apartheid Government still being tested in court. Key issues remain tion development and will revive the share of
was implementing structural change. about interpretation, particularly around the global exploration expenditure to a minimum
The ADU Ministerial dinner – held at the State Reception Centre, King’s Park – attracted more than 200 guests

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