‘New mines bill double-edged sword’

“The new tax measures spelt out in the bill may deter foreign investment due to higher operational costs and reduced profitability,"

THE recently gazetted Mines and Minerals Bill is set to bring the much-needed regulation of critical minerals, promote local beneficiation and incorporate environmental considerations aligned to global sustainable mining practices, experts have said. They, however, fear that the proposed licensing fees are exorbitant and could deter foreign investment into the capital-intensive sector. The Bill introduces…

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