South Africa Launches Mining and Petroleum Policy Reforms Ahead of African Mining Week 2025
South Africa is embarking on a transformative path in its extractive industries with the rollout of strategic policy reforms aimed at revitalizing the mining and petroleum sectors. These changes, unveiled ahead of African Mining Week (AMW) 2025 set for October 1–3 in Cape Town, are expected to enhance competitiveness, attract investment, and deepen local participation in resource-driven growth.
At the heart of these reforms is the Mineral Resources Development Bill, intended to replace the 2002 Mineral and Petroleum Resources Development Act. Released for public comment in May 2025, the bill will remain open for submissions until August 8.
It seeks to unlock investment by addressing regulatory bottlenecks, empower small-scale miners, and promote beneficiation and value addition in-country. In 2024 alone, South Africa’s mining industry generated R674 billion in export earnings and contributed R451 billion to GDP, underlining the sector’s economic significance.
Complementing this is the proposed Petroleum Products Bill (PPB), which is undergoing final consultations and expected to reach Cabinet later this year. The PPB will modernize the outdated 1977 legislation governing South Africa’s fuel industry, streamlining licensing, ensuring supply security, and supporting economic transformation. This move is crucial to revitalizing South Africa’s downstream petroleum sector and enhancing resilience.
The government is also preparing for the full implementation of the Upstream Petroleum Resources Development Act by September 2025. Signed by President Cyril Ramaphosa in 2024, the Act offers a standalone framework for oil and gas development. It is designed to attract foreign direct investment and facilitate broader citizen participation in upstream petroleum activities—key to diversifying the national energy mix and stimulating economic growth.
In addition, the Mine Health and Safety Amendment Bill, currently before Parliament, seeks to modernize the legal framework for worker safety in mining. The bill introduces tougher accountability measures for mine operators and aims to foster a zero-harm culture through improved training, technology use, and regulatory enforcement.
The reforms are expected to particularly benefit the Platinum Group Metals (PGMs) sector, where South Africa remains a global leader. AMW 2025 will host a high-level panel dedicated to examining how the new legislative landscape is boosting investor confidence and unlocking the potential of the PGMs and other mineral value chains.
Minister of Mineral and Petroleum Resources, Gwede Mantashe, emphasized the government’s commitment to balancing investor interest with inclusive development. “These policy instruments are more than just legal reforms—they are pathways to inclusive growth, job creation, and long-term sustainability in the extractive industries,” he said.
With major structural shifts underway, South Africa is positioning itself as a catalyst for resource-led industrialization on the continent. African Mining Week 2025 will provide a timely platform for stakeholders to engage, collaborate, and chart a forward-looking path for Africa’s extractive future.
