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Although optimal mining could be elegantly explained in economic and sustainable development jargon,the politics of resource nationalism could render economic law and policy instruments unworkable,despite these instruments having righteous intentions.South Africa is a case in point.After democracy,its outdated law and policy framework was replaced with a modern system,and in many respects a leading one.Converting the privately-owned mineral right system into a scheme of State custodianship allowed for a resources royalty structure that first,compensates for the loss of a non-renewable resource,second,provides for optimal resource use through encouraging value-addition to mineral production,and third,effective targeting of economic rents.Despite these improvements,thecountry went through a process of fierce debate on whether or not mines should be nationalized – fuelled by public anger with claims of political non-delivery.It resulted in considerable noise because of public unawareness of fact anddistortion thereof in political rhetoric.However,the initial chaos made way for a constructive debate on resource nationalism and the purpose of this article is to fruitfully contribute to the fundamental discussion on if and how South Africans benefit from its mineral riches.The methodology is to start with explaining resource nationalism as an international issue for the extractive industries; then to offer an overview of existing resource nationalism instruments in SA – along with their effectiveness in attracting rents and investment; and to conclude with considerations for South Africas Mineral Tax Law and Policy in order to achieve optimal management and benefit from mineral extraction and associated rents.The major finding is that the current suit of instruments can be tweaked to become an appropriate platform for further improvement and optimal management of resource rents.However,it will be necessary to first,address the perceptions of bad governance,second,to investigate if the mineral rent portion of the royalty formula can be ring-fenced for the purpose of establishing a Sovereign Wealth Fund and third,spread the message for public tolerance because benefit from mineral extraction and generation of associated rents take time.