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Tuesday, 26 June 2012

Mine Watch (Statutory Instrument)

As pressure grows on Government to increase mining revenue - an announcement last week from the Ministry of Mines that under the new Statutory Instrument number 34 of 2012, mining companies would now be required to submit reports on the recovery percentages and efficiency of all mining and metallurgical processes and balance sheet showing the disposition of all metal and mineral products depleted from the ore reserves. Other requirements for mining companies include providing a statement of work carried out on capital products and expenditure and availing quantities and grade of end products produced, quantities sold and average price of selling prices.

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