§ Mr. AncramTo ask the Secretary of State for Foreign and Commonwealth Affairs what discussions his Department has had with(a) UK investors in the South African mining industry and (b) the South African Government on the implications of the South African Mineral and Petroleum Resources Development Act 2002 on the 1994 agreement between the Government of the Republic of South Africa and the Government of Great Britain and Northern Ireland for the Promotion and Protection of Investments, which came into force in 1994; when these discussions took place; and what mechanisms exist for settlement of claims UK investors may have against the South African Government resulting from the expropriation of privately-owned common law mineral rights under the 2002 Act.[189091]
§ Mr. StrawForeign and Commonwealth Office and UK Trade and Investment officials have regular discussions with UK companies investing in South Africa. In June 2002, I took the opportunity of a meeting with the South African Foreign Minister to underline the importance we attached to the South African Government consulting industry on the details of the draft Mining Bill.
Remedies exist for UK companies in dispute with the South African Government under South African law. In addition, under the provisions of the UK/South Africa Investment Promotion and Protection Agreement any dispute between a UK investor and the South African Government may be submitted to international arbitration.