South Africa to unveil new mining, petroleum reforms at AMW2025

South Africa will spotlight sweeping reforms to its mining and petroleum policies at upcoming African Mining Week (AMW), aiming to boost sector competitiveness and attract investment across its extractive industries.

The Ministry of Mineral and Petroleum Resources has introduced four major legislative reforms, including the draft Mineral Resources Development Bill that was released for public comment on 20 May 2025.

The bill, set to replace the 2002 Mineral and Petroleum Resources Development Act, aims to address regulatory bottlenecks, empower small-scale miners and promote local beneficiation. Public submissions are open until 8 August.

In 2024, South Africa’s mining sector contributed R674 billion (about $37.6 billion) in export earnings and R451 billion to gross domestic product, underscoring its economic significance.

As the world’s leading producer of platinum group metals (PGMs), the reforms are expected to unlock further growth in the sector.

The government is also finalising the Petroleum Products Act Amendment Bill, which seeks to modernise licensing and appeals processes in the downstream petroleum sector.

The bill, submitted for public comment in October 2024, is expected to reach Cabinet before the end of this year.

Meanwhile, the Upstream Petroleum Resources Development Act, signed by President Cyril Ramaphosa in 2024, is slated for full implementation by September 2025.

The law establishes a dedicated regulatory framework for oil and gas exploration, designed to attract foreign direct investment and expand opportunities for local firms across the petroleum value chain.

Mineral and Petroleum Resources Minister Gwede Mantashe said the reforms reflect government’s commitment to creating an investor-friendly environment while ensuring inclusive growth and job creation.

In addition, the Mine Health and Safety Amendment Bill, tabled in late 2024, proposes stricter accountability measures and enhanced training to advance South Africa’s zero-harm agenda in mining operations.

The reforms will be spotlighted at the upcoming African Mining Week scheduled for 1-3 October in Cape Town.

A dedicated panel will explore how the new legislative landscape is reshaping South Africa’s PGM market and unlocking investment opportunities across the mineral value chain.