South Africa is getting ready to present major changes to its mining and petroleum policies during the upcoming African Mining Week (AMW), which is scheduled to take place from October 1 to 3, 2025, in Cape Town. The country’s goal is to make its extractive sector more competitive, attract new investors, and drive economic growth by improving how the industry is regulated and managed.
The Ministry of Mineral and Petroleum Resources has introduced four key legislative reforms aimed at tackling delays, encouraging local participation, and promoting value addition within the sector. One of the major changes is the draft Mineral Resources Development Bill, which was released for public comment on May 20, 2025. The proposed bill is designed to replace the current Mineral and Petroleum Resources Development Act of 2002.
According to the ministry, the new bill will help reduce bottlenecks in the licensing process, support the growth of small-scale miners, and improve local beneficiation—ensuring that more minerals are processed within South Africa instead of being exported raw. The public has until August 8, 2025, to submit their opinions and suggestions on the bill.
South Africa’s mining industry remains one of the country’s most vital economic pillars. In 2024 alone, the sector contributed R674 billion (approximately $37.6 billion) in export earnings and R451 billion to the country’s gross domestic product (GDP). These numbers confirm the industry’s importance in job creation, revenue generation, and national development.
As the world’s largest producer of platinum group metals (PGMs), the South African government believes that updated laws and policies will unlock more value from the mining sector and attract new investors both locally and internationally.
Apart from the mining reforms, the government is also finalising the Petroleum Products Act Amendment Bill, which focuses on simplifying the processes for licensing and appeals in the downstream oil and gas sector. This bill was opened to the public for comments in October 2024, and it is expected to reach the Cabinet before the end of 2025.
In addition, the Upstream Petroleum Resources Development Act, signed into law by President Cyril Ramaphosa in 2024, is expected to become fully operational by September 2025. This law creates a framework to regulate oil and gas exploration activities, and it aims to bring in more foreign direct investment while opening up opportunities for local businesses across the entire petroleum value chain.
Minister of Mineral and Petroleum Resources, Gwede Mantashe, said the reforms are part of the government’s broader plan to attract investors and ensure that all South Africans benefit from the country’s natural resources. “We are working to build an environment that welcomes investment but also supports inclusive growth and job creation,” he stated.
Another bill under review is the Mine Health and Safety Amendment Bill, which was tabled in late 2024. This bill is focused on improving safety standards in the mining industry. It includes stricter rules on accountability and aims to ensure better training and working conditions for mine workers. The law supports the country’s zero-harm agenda, which targets the elimination of fatal and non-fatal injuries in mining operations.
During African Mining Week, these reforms will be put under the spotlight. A dedicated session will be held to explore how the new policies are changing the landscape of the PGM market and unlocking opportunities for investors across South Africa’s mineral value chain.
Government officials, private sector players, international financiers, and mining communities are expected to engage in robust discussions about how the new legal changes will shape the future of the industry.
African Mining Week has become a key platform for countries across the continent to showcase reforms, projects, and partnership opportunities in the mining and energy sectors. For South Africa, it is an important chance to show commitment to improving its mining and petroleum sectors through transparent governance, better investor relations, and inclusive economic participation.
