Webber Wentzel's Mining Sector Round Up 2024

Current Mining Legal Regime cont’d

• Transfer of a licence - A mining/ mineral processing license may only be transferred with approval of the Minister and the production of a tax clearance certificate. • Application for transfer done in prescribed manner and form upon payment of a fee. • The Minister must render a decision within 30 days. Once transfer is concluded, the transferee assumes and is responsible for all the rights and duties of the transferor under the licence for the unexpired period of the right. • Transfer of Control – A right holder shall not, without the prior written approval of the Minister: register the transfer of shares where the transferees obtains control or enter into an agreement that has the effect of giving a person control. • Control of a company arises when: a person holds 50% or more of the equity shares of the company; or the person is entitled to appoint, or to prevent the appointment of, half or more than half of the number of directors of the Company. • The Minister must process an application for approval within 60 days.

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