Abstract:
South Africa, like many African States is faced with an increase in the unemployment rate and decrease in economic growth. In terms of Mineral and Petroleum Resources Development Act 28 of 2002 (MPRDA) as amended, the people of South Africa are the owners of mineral resources such as; Platinum Group Metals, Gold, Platinum, and the State is the custodian thereof. The main problem is that the majority of black people in South Africa remain destitute and marginalized. They revolt by demanding radical socio-economic transformation and beneficiation from mineral resources, as the backbone of their survival. The government rejected nationalisation instead favouring a Mineral beneficiation strategy. In terms of Section 26 of MPRDA, the minister of mineral resources may initiate or prescribe levels of beneficiation of minerals in the Republic. The beneficiation strategy entails that the people must have control and access to their country’s mineral resources; in another context, it entails the transformation of minerals or a combination of minerals to higher value product, which can either be consumed locally or exported. Thus creating economic growth, jobs and alleviate poverty. The study examines legislation and policies that promote beneficiation of minerals and petroleum resources in the Republic. The study also deals with the importance of minerals and petroleum beneficiation as an impetus towards socio-economic transformation in the country. It utilised jurisprudence of Botswana, which has robust legislation, and strategies that promote and deliver resource beneficiation to the citizens equitably. It points out the challenges faced in the transformation of mineral resources beneficiation and legislative prospects that have been put in place to redress them.
Key Words: Beneficiation legislation, Minerals resources, Socio-economic transformation and Poverty.
