Some older articles might not yet have been migrated to this version of our website. Yesterday, the South African Treasury said the proposed tax bill on gas emissions will not impact already high electricity prices and that it will not add pressure to industry sectors, such as the mining industry. The government has also announced a new carbon tax, which is expected to raise about R50 billion ($12.6 billion) over four years. However, representatives from the country's mining industry have warned the government that firms will have to further reduce costs by cutting jobs and closing mines to cope with lower commodity prices.
Yesterday, the South African Treasury said the proposed tax bill on gas emissions will not impact already high electricity prices and that it will not add pressure to industry sectors, such as the mining industry. The government has also announced a new carbon tax, which is expected to raise about R50 billion ($12.6 billion) over four years. However, representatives from the country's mining industry have warned the government that firms will have to further reduce costs by cutting jobs and closing mines to cope with lower commodity prices.