South Africa's controversial mining royalty bill may finally emerge some time in mid-May, according to the country's finance ministry.

The deputy director general of South Africa's Treasury Ismail Momoniat made the prediction to reporters.

"It is something that we should be able to release very very soon," said finance minister Trevor Manuel.

The release of the bill has been severely delayed as a result of disagreements about how the royalties should be charged.

Current plans would charge companies in relation to sales, whereas many in the industry would rather the levy be charged in relation to profits.

The plan for the new royalty tax has met resistance since its inception back in 2003.

Critics of the toll argue that a tax on sales will weigh more heavily on less profitable mines and could also inhibit the opening of new mining ventures in South Africa.

The Treasury said that the proposed rates are "eminently reasonable", arguing that they fall on the lower half of the international scale.



Platinum group metals are set to be charged at a rate of four per cent.

Ÿ Adfero Ltd