Latest news with #MineralResourcesandPetroleum
IOL News
03-07-2025
- Business
- IOL News
Gwede Mantashe unveils R2. 86 billion budget to revive SA's mining and petroleum sectors
Minister of Mineral and Petroleum Resources, Gwede Mantashe says the R2.86 billion budget will drive investment, transformation, and regulatory reform to ensure South Africa's mineral wealth benefits all and supports inclusive economic growth. Minister of Mineral Resources and Petroleum Gwede Mantashe says the reconfiguration of the Department of Mineral and Petroleum Resources (DMPR) has created an opportunity to streamline regulation and promote investment in South Africa's mineral and petroleum sectors. Tabling his department's budget in Parliament on Wednesday, Mantashe said the department has been allocated R2.86 billion for the 2025/26 financial year with R1.16 billion earmarked for transfers to public entities. 'Although constrained due to prevailing economic hardships, this budget is geared towards enabling the department to efficiently regulate the mining and petroleum sectors for transformation, inclusive growth, development, and ensure that all South Africans derive sustainable benefit from the country's natural wealth,' Mantashe told MPs. He noted that despite geopolitical tensions and depressed commodity prices, particularly for platinum group metals (PGMs), manganese, and chrome, South Africa's mining sector still contributed R451 billion to GDP in 2024, sustaining a 6% share. Export earnings totaled R674 billion, a slight decline from R678 billion in 2023. However, jobs in the sector fell by 0.9%, with the PGM sector hardest hit. Mantashe reported progress in regulatory reforms. 'Since our last tabling of the budget last year, the department has finalised and published for public comment the draft Mineral Resources Development Bill (MPRDB),' he said. The revised Petroleum Products Bill is also being finalised for Cabinet submission, while the Upstream Petroleum Resources Development Act (UPRDA) signed into law in October 2024 aims to attract investment in the oil and gas sector.
Zawya
18-03-2025
- Business
- Zawya
African Markets Digitalize Mining Licensing to Boost Investments
African countries rich in minerals are accelerating the digitalization of their mining licensing processes to attract investment and maximize resource exploitation for economic growth. As part of this push, Zambia launched its Zambia Integrated Mining Information System last month, aiming to streamline the awarding of licenses. The digital platform is set to play a key role in attracting mining partners and help the country reach its goal of increasing copper production to 3.1 million metric tons by 2031. This launch follows a record-breaking $9.3 billion in mining investments in 2024 and a 79% increase in permits granted, reflecting growing global interest in Zambia's mining potential. As African markets increasingly adopt digital solutions to simplify licensing procedures, African Mining Week will be at the forefront of this transformation, showcasing the vast potential of the continent's digitalized mining sector. The event will highlight lucrative investment opportunities across various markets, featuring numerous mining blocks being licensed by African nations. South Africa, historically a major gold producer, plans to leverage its first digital mining licensing system to attract new investors and diversify its mining sector. Set for launch by June 2025, the system will improve the efficiency and transparency of the licensing process, reducing the time required to initiate new mining projects, including those for platinum group metals, according to Gwede Mantashe, South African Minister of Mineral Resources and Petroleum. Tanzania is also streamlining its mining sector with a new licensing management system designed to maximize investments in lithium, graphite and rare earth minerals – commodities that are experiencing soaring global demand. According to Aziza Swedi, Acting Director of the Tanzania Mining Commission, the country has issued 54,626 mining licenses over a seven-year period through November 2024, with plans to expedite future licensing via its digital platform. Rwanda has embraced digital transformation in its mining sector with the launch of the Inkomane Digital platform in October 2024. Companies such as Aterian have aligned their mineral trading operations with this tool. The platform connects mining companies, trading partners and regulatory bodies like the Rwanda Revenue Authority, enhancing compliance, workforce management, payroll generation and monitoring of mining activities. Similarly, Nigeria introduced its Mineral Resources Decision Support System in May 2024 to attract investors to its vast solid mineral reserves. The platform serves as a one-stop shop, offering easy access to geological and policy data while enabling investors to seamlessly apply for mining permits. As more African nations integrate digital tools into their mining sectors, African Mining Week will spotlight the digitalization of mining operations across the continent. The event will feature discussions on new licensing systems and highlight the investment opportunities emerging as African nations unlock their mineral wealth. African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@ Distributed by APO Group on behalf of Energy Capital&Power.
