Momoniat said that there was a lot of scaremongering about the impact on jobs and production costs of the carbon emissions tax, which came into effect in June.
He said the mining industry was not one of 100 companies that had direct emissions the new law was targeting, adding that the tax was low.
South Africa should stick to its guns on the carbon tax, or risk losing its status as a country that was concerned about climate change, as has been the case with Australia, Canada and the US, which he described as climate denialists.
“We do not know why people are surprised when the bill has been through so many processes,” Momoniat said. “Business does not like being taxed. They will always lobby against it in one way or another, but now they are duty-bound to comply. There is always a contestation of taxes when they are new.”