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Govt reworking Mining Bill

Govt reworking Mining Bill

The government is rewor­king the controversial profit-sharing clause in the Mining Bill by aligning it with the value of minerals.

The bill will decide new provisions, including the clause on allocating 26 per cent of profits to displaced persons. Linking this clause with the value of minerals is an option. Companies say that most firms have mining divisions and the final profit is a consolidated number. The move to share pro­fits has been borrowed drawn from South Africa's wid­ely pop­ular Black Economic Empo­werment Policy.

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