The South African government has announced that an announcement concerning the country's mining royalties bill is imminent.

Finance Minister Trevor Manuel said that official word on the revamped bill would come "very soon".

South Africa is the world's biggest producer of platinum and the mining industry has voiced opposition to plans to impose a royalty tax on the sector.

Royalty tax plans were first proposed in 2003, but have now been heavily revised.

The updated bill is thought to be completed and was the subject of discussion during a cabinet meeting this week.

"We should be able to make a pronouncement on this very soon," he said at a press conference, according to Engineering News.

The main concern raised by mining companies was that the royalties should be charged in relation to profits, rather than sales.

A system based on sales could disproportionately penalise less-profitable mines and damage a mine's difficult start-up phase.

No royalty charges are currently levied against the country's miners.

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