South Africa’s Mineral Royalty and Petroleum Resources Act, implemented from March, taxes “some of the super-profits that the resource sector generates,” Finance Minister Pravin Gordhan said.

Gordhan was responding to a question from a lawmaker on whether South Africa will impose a mining tax similar to that proposed by Australia. South Africa only announces tax proposals at the time of the budget, Gordhan said in a written reply to the question, which was e-mailed by Parliament today.