{"id":7769,"date":"2012-02-08T13:49:52","date_gmt":"2012-02-08T11:49:52","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/s-africa-moots-mining-wealth-fund-to-cap-rand-gains\/"},"modified":"2012-02-08T13:49:52","modified_gmt":"2012-02-08T11:49:52","slug":"s-africa-moots-mining-wealth-fund-to-cap-rand-gains","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-moots-mining-wealth-fund-to-cap-rand-gains\/","title":{"rendered":"S.Africa moots mining wealth fund to cap rand gains"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Feb 8 (Reuters) &#8211; South Africa&#8217;s ruling<br \/>\nANC is considering starting a sovereign fund from proceeds of a<br \/>\nproposed new mining tax that could be used to intervene in the<br \/>\nmarket to cap gains in the rand currency in times of a commodity<br \/>\nboom.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>&#8220;A Resource Rent Tax (RRT) of 50% must be imposed on all<br \/>\nmining,&#8221; according to a study on mining sector reforms submitted<br \/>\nto the African National Congress, a copy of which was obtained<br \/>\nby Reuters on Wednesday.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The RRT proceeds should ideally be kept in an offshore<br \/>\nSovereign Wealth Fund to ameliorate the strengthening of our<br \/>\ncurrency during commodity booms.&#8221; \t<\/p>\n<p> (Reporting by Phumza Macanda)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JOHANNESBURG Feb 8 (Reuters) &#8211; South Africa&#8217;s ruling ANC is considering starting a sovereign fund from proceeds of a proposed new mining tax that could be used to intervene in the market to cap gains in the rand currency in times of a commodity boom. &#8220;A Resource Rent Tax (RRT) of 50% must be imposed [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-7769","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7769","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=7769"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7769\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7769"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7769"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7769"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}