Mining: Production and sales (Preliminary)
Seasonally adjusted mining production decreased by 5,3% in December 2021 compared with November 2021. This followed month-on-month changes of -3,3% in November …
Substance abuse costs SA billions – Grocott's Mail
The annual cost to the country of alcohol abuse alone, in terms of absenteeism, lost productivity, health and welfare costs and alcohol-related crime is estimated at up to 10% of Gross Domestic Product (GDP), or as much as R37.9 billion annually, according to a 2014 study in the South African Medical Journal (SAMJ). ...
Financial reporting in the mining industry International …
International Financial Reporting Standards (IFRS) provide the basis for financial reporting to the capital markets in an increasing number of countries around the
Understanding Court-Ordered Costs in South Africa: A …
Understanding how costs are awarded by South African courts is essential for both litigants and legal practitioners alike. In this guide, we delve into the intricate details of court-ordered costs in South Africa, exploring the rules, principles, and types of cost awards that may arise during legal proceedings. General Principles of Cost Awards.
Costs Incurred By Mines In South Africa
Cape Town Strikes hitting South Africa's platinum and gold mines have cost the continent's largest economy just over R10 billion ($114 billion) so far this year Accounting Mining Jobs costs incurred by mines in south africa These premature deaths cost the economy $20 billion (2011 International $), or 6% of South Africa's 2012 GDP This is the ...
South Africa: Supreme Court of Appeal
(b) The assessments for the years 2007, 2008 and 2009 are referred back to the Commissioner for the South African Revenue Service to calculate the amounts added back in terms of s 23F(2) of the Income Tax Act 58 of 1962 so as to exclude overheads, but to include on-mine operation costs, concentrating and smelting operation costs, royalty …
Identification of cost factors relating to mining incidents
A total of 34 main cost factors relating to mine incidents were identified, along with numerous sub-factors. Out of the 34 factors identified, eight were classified as direct cost …
Parametric estimation of capital costs for establishing a coal mine …
The Journal of The Southern African Institute of Mining and Metallurgy Parametric estimation of capital costs for establishing a coal mine Table IX Actual and estimated cost comparison for truck-and-shovel operations Operation Country Balaram Baround Top Seam Basundhara Gevra Hingula Kaniha OP Kulda Kusmunda Moabsvelden Middelburg O/C …
South Africa
The consultant will simply recover the actual cost incurred from the client without claiming any input tax and will not account for any output tax on the recovery either. This is because section 54 (2) of the Value-Added Tax Act No. 89 of 1991 (the " VAT Act ") deems the supply to be made to the client directly.
Violent crime, rising costs put South Africa's mining …
Mining companies in 2020 spent the least on exploration in South Africa since the end of white-minority rule in 1994, according to the South African Reserve Bank.
South Africa Mining and Petroleum Royalties
We would like to show you a description here but the site won't allow us.
How Much It Cost to Start a Business in South Africa
The cost of starting a business in South Africa is dependent on several factors including the size, type, industry, and structure of the business you intend starting. But generally, if you intend starting a small business, you are expected to spend anywhere between R125 and R475 (R125 for a private company, R475 for a non-profit company ...
Competition for Land: The Water-Energy-Food Nexus and Coal Mining …
In 2014, South Africa generated ~253 TWh of power, almost 92% of which was generated by means of coal (Agora Energiewende, 2017). Based on long-term contracts which commit several coal mines to supply coal to Eskom, South Africa will probably continue to rely on coal-fired power stations for the next 30–50 years (Delport et …
ESTIMATION OF CAPITAL COSTS FOR ESTABLISHING …
1.5. South African coal mining context 13 1.5.1. History of the South African coal mining industry 13 1.5.2. Current status of coal mining in South Africa 15 1.5.3. The role of South African coal market plays globally 18 1.6. Purpose of the study 20 1.7. Context of the study 20 1.8. Problem statement 21 1.9. Delimitations of the study 21 1.10.
Gold Cost Curves
with all-in sustainable costs above the gold price. These unprofitable mines accounted for 28% of South Africa's total ounces of approximately 3.8 million produced during 2017. Should gold retrace back to the USD1,200/oz level, the costs of 48% of the South African gold mines will be above the price line on an all-in sustainable cost basis.
Highlights of key principles from case law regarding deductibility of
In summary, SARS' view, confirmed by the courts, is that for input tax to be deductible, there must be a sufficiently close link between the costs incurred and the making of taxable supplies. Differently stated, the immediate purpose of the costs must be to make taxable supplies. Content provided by Deloitte South Africa. Location: South …
South Africa: Mining operating expenses 2023 | Statista
Published by Statista Research Department, Feb 14, 2024. In 2023, employment benefits and contractors accounted for a 33 percent share of the total South African mining industry operating ...
ECONOMICS OF MINING
A number of factors explain the decrease, including costs, low commodity prices and uncertainty emanating from the domestic policy environment. These factors posed challenges for some major mines in their efforts to remain profitable. As in 2015, many …
Platinum Cost Curves
South African platinum mines accounted for 73% of global platinum production during 20. Not one South African platinum mine had an all-in sustaining cost ("AISC") higher than the average 2020 price. USD -denominated AISC per Pt. eq. oz …
Nationalisation Of The Mines In South Africa Economics Essay
Some of these costs include the general operation and running of the mines, possible shutting down of the mines, as well as developing the mines. If the government has not shown any signs of profit, these costs will still have to be incurred, which could be detrimental to the economy and the well being of the individual South African.
High-capacity coal trucks to reduce costs and emissions at South Africa …
This at least provides an indication of actual business-incurred costs associated with carbon emissions in South Africa at present, while noting that the actual costs are likely much higher. South Africa introduced a carbon tax in 2019 at a rate of R 120 per tonne with increases by the 2% over the consumer price inflation index per year ...
The hidden costs when selling a house in South Africa
Costs can range from about R400 to R1 000 per certificate, and perhaps more if the inspection reveals faults. It's wise to budget for about R5 000 for any repair work required. 4. Estate agent's commission. If you've employed an estate agent, which is advised, you'll need to pay them a commission.
Health risk management cost items imposed by
Reported ODs in South African general industry are a result of inefficiencies in occupational health programmes prescribed in health regulations shown in Table 1.Document analysis, a type of qualitative research method (Bowen, 2009) and a data collection method (Kayesa and Shung-King, 2021) was used to identify cost items …
Wind Energy In South Africa: Massive Cost Of Wind Energy?
The Department Of Energy in South Africa set a target of 17 800GWh to be produced from renewable energy sources, such as wind farms, by 2030. To achieve this target a number of smaller wind farms have already been successfully established in South Africa with several large wind energy projects being developed.
An analysis of the tax implications of prospecting expenditure incurred
Income Tax Act or merely cost s incurred for the possible or pote ntial ... government The Green Paper on a Minerals and Mining Policy for South Africa released for public discussion in February ...
Investing in South Africa's Mining and Mineral …
> South Africa's mining industry is the fifth largest globally in terms of gross domestic product (GDP). > The mining sector contributed R356bn or 7.3% to South Africa's GDP …
Topic 6 Contextual Overview
This outcrop turned out to be a part of the reef that was later called the "Main Reef" and turned out to set off the beginning of the South African "Gold Rush" in 1886. [5] The gold fields in the Transvaal colony and surrounding area was the "largest single producer of gold in the world". [6] 2. The Development of the Mining Industry.
Financial Provisions for Rehabilitation and Closure in …
Chamber of Mines of South Africa and Coaltech Research Association. 2007. Guidelines for the rehabilitation of mined lands. CoM and Coaltech, Johannesburg (hereafter referred to as "CoM & Coaltech Guidelines") ... Cost constraints, inter alia, mitigate against the need for a "full audit" and may be in excess
1 Madeena Co. acquired the right to use 1,000 acres of land in South …
Madeena Co. acquired the right to use 1,000 acres of land in South Africa to mine for silver. The lease cost is $50,000, and the related exploration costs on the property are $100,000. Intangible development costs incurred in opening the mine are $850,000. Madeena Co. estimates that the mine will provide approximately 100,000 ounces of silver.
South African mines seek to turn up renewables to ease …
South African mining companies are developing a combined 6,500 megawatts of renewable power, the country's Minerals Council said. They are expected to generate 2,294 megawatts of their own power ...