South Africa coal, metal exporters to spend billions on rail
Organizations representing firms including Glencore and a unit of Anglo American are negotiating the terms of the pacts with Transnet.
The draft Bill has stipulated that miners of major and minor minerals will set aside an amount equal to the royalty paid by them to states for the development of the region being mined.
“The draft Bill provides for the state government to notify and invite applications in the form of competitive offers for grant of a prospecting licence over an area where reconnaissance has been conducted,” a source, who did not wish to be identified, said.
