Latest news with #DepartmentofMineralandPetroleumResources
The Citizen
17 minutes ago
- Business
- The Citizen
Fuel prices decrease from Wednesday
All grades of fuel are expected to decrease as from Wednesday. The fuel price adjustments were announced by the Department of Mineral and Petroleum Resources on Tuesday. The price adjustments are as follows: Petrol 93 (ULP & LRP): 5c decrease. Petrol 95 (ULP & LRP): 5c decrease. Diesel (0.05% sulphur): 36c decrease. Diesel (0.005% sulphur): 36c decrease. Illuminating Paraffin (wholesale): 56c decrease. Single Maximum National Retail Price for illuminating paraffin: 75c decrease. Maximum LPGas Retail Price: 89c per kilogram decrease. 'The average Brent Crude oil price decreased from 66.40 US Dollars (USD) to 63.95 USD during the period under review. The main contributing factors are the continued global trade uncertainty, lower global crude oil demand outlook as well as the OPEC+ announcement of planned production increase in June 2025 and possibly in July 2025. 'The average international petroleum product prices of petrol increased (under recovery) due to the switching costs to summer fuel grade in preparation for summer driving season in the Northern Hemisphere. The prices of diesel and illuminating paraffin followed the decreasing trend of crude oil. 'These factors led to higher contributions to the Basic Fuel Prices of petrol by 19.11 cents per litre (c/l) and lower contributions to the Basic Fuel Prices of diesel and illuminating paraffin by 11.91 c/l and 16.70 c/l respectively,' the department said. Furthermore, the Rand strengthened during this period, leading to lower prices. The increase in the fuel levy is also expected to be implemented this month. 'Therefore, the Fuel Levy in the price structures of petrol and diesel will increase to 415.00 c/l and 402 c/l, respectively. The Road Accident Fund levy remain unchanged at 218.00 cents per litre on the price structures of petrol and diesel,' the department said. – At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
The Citizen
16-05-2025
- Business
- The Citizen
SA created 159 new mines in five years, creating over 15,000 jobs
The establishment of new mines follows a structured application process overseen by the Department of Mineral and Petroleum Resources. South Africa has established 159 new mining operations over the past five years, creating over 15 000 direct jobs according to Minister of Mineral and Petroleum Resources, Gwede Mantashe. The information was revealed in response to parliamentary questions posed by MK Party MP Mzwanele Manyi regarding the state of mining development in the country. '159 mines were established over the past five years,' Mantashe confirmed, adding that '15,131 jobs were created through the granting of the specified mining rights.' New mining operations and registration process The establishment of new mines follows a structured application process overseen by the Department of Mineral and Petroleum Resources. To improve this process, the department has recently procured 'a streamlined online licensing system to improve transparency and efficiency in application processes,' Mantashe explained in his response to EFF MP Nqobile Matilda Mhlongo. This new system forms part of broader efforts to 'improve regulatory certainty and stakeholder engagement, creating a more attractive environment for both local and international investors,' the minister added. Mantashe said the department ensures sustainable mining practices through strict regulatory oversight. 'The department ensures that mining activities are conducted sustainably by applying the principles of the National Environmental Management Act (Nema) when granting mining licences.' He added that each mining operation must comply with environmental regulations before receiving approval. 'Each mining right is accompanied by an approved Environmental Authorization, which outlines measures to address potential ecosystem disturbances and biodiversity loss,' the minister explained. Moreover, he stated that the department 'also conducts regular inspections to monitor compliance.' ALSO READ: Here's what some of South Africa's SOE bosses earn Community development through mining Mining companies operating in South Africa are required to contribute to local development as part of their operating agreements. According to Mantashe, 'the Department ensures that the development of mining balances social, economic and environmental sustainability'. This approach is formalised through mandatory development plans. 'Each approved mining licence includes a Social and Labour Plan (SLP), outlining the company's development commitments,' he noted. These plans have resulted in tangible benefits, with 'notable projects including the construction of the Malekana Steel Bridge in Limpopo and the completion of JS Skenjana Secondary School in the Eastern Cape'. ALSO READ: R16m Gauteng gold bust: Pair arrested after tip-off Mineral beneficiation shows mixed progress The department has implemented legislation to encourage local processing of minerals rather than simply exporting raw materials. In his response to Manyi, Mantashe highlighted that 'The department has implemented the Precious Metals Act and the Diamonds Act both of which have provisions for supporting domestic beneficiation by availing of precious metals and diamonds for domestic beneficiation through the State Diamond Trader (SDT) and South African Diamonds and Precious Metals Regulator (SADPMR).' Results from these beneficiation initiatives have been mixed so far. 'Between 2022 and 2023, gold jewellery fabrication declined from 1482kg to 1030kg,' Mantashe reported. However, other minerals showed improvement: 'Domestic platinum jewellery fabrication grew from 50kg to 121kg in 2022, whilst diamonds beneficiation increased from 223,005 in 2022 to 234,109 in 2023.' ALSO READ: Tshwane's R54.6bn budget draws mixed reactions Tackling illegal mining challenges Illegal mining remains a significant challenge for South Africa's mineral sector. In addressing Mhlongo's questions about this issue, Mantashe said the department had come up with a comprehensive approach involving multiple government agencies. 'An Interdepartmental Task Team made up of the DMRE, Saps, Home Affairs, Justice and Sars is working together to identify, disrupt, and prosecute illegal mining activities,' the minister explained. The department's strategy includes several key components to address the problem: 'Efforts have been made to seal off and rehabilitate derelict mines, cutting off access for illegal miners and addressing safety and environmental risks,' Mantashe noted. Additionally, the department is 'working with the Reserve Bank and Sars to crack down on the illicit trade of minerals like gold and chrome to protect the formal economy.' To strengthen enforcement capabilities, the Department has deployed 'more trained mining inspectors to illegal mining hotspots, working in coordination with law enforcement agencies.' Legal frameworks are also being reinforced, with 'revisions to the MPRDA underway to increase penalties and classify illegal mining as a serious economic crime to enhance enforcement powers.' Modern technology is being incorporated into these efforts as well. 'Drones and satellite surveillance are being piloted to monitor illegal activity, supported by intelligence-led operations that have resulted in successful interventions and arrests,' according to the minister. Community engagement forms another important element of the strategy, with 'awareness campaigns launched to educate communities about the risks of illegal mining, while promoting legal and sustainable small-scale mining alternatives.' NOW READ: Nearly 2 000 arrested during nationwide Vala Umgodi operations in April
The Citizen
07-05-2025
- Automotive
- The Citizen
Cartoon of the day: 7 May 2025
Here's how much you will now pay for fuel at the pumps South Africans are celebrating another drop in fuel prices on Wednesday. The Department of Mineral and Petroleum Resources announced this week that the price of 93 and 95 unleaded petrol will drop by 22c/l. 0.005% low-sulphur diesel will decrease by 41c/l, while 0.05% high-sulphur diesel will now cost 42c/l less. The price of illuminating paraffin was also reduced by 42c/l. This is the third consecutive decrease in the petrol price, offering much-needed relief to motorists and commuters. What you will now pay at the pumps You will now pay the following for fuel inland: 93 unleaded: R21.29/l 95 unleaded: R21.40/l 0.05% Diesel: R18.90/l 0.005% Diesel: R18.94/l Here's how much you will now pay for fuel at the coast:
The Citizen
06-05-2025
- Business
- The Citizen
Fuel prices go down at midnight
Motorists in Merafong can also get a bit of relief as the Department of Mineral and Petroleum Resources has confirmed a third consecutive monthly decrease in fuel prices, which will become effective at midnight tonight. 'The reductions offer much-needed relief during a challenging economic period,' says Lebo Ramolahloane, National Vice Chairperson of SAPRA (the South African Petroleum Retailers Association). Although the prices of petrol, diesel and paraffin will decrease, that of gas is increasing. Here are the adjustments that will be effective from midnight: Petrol: 93 ULP & LRP: decrease 22.00 c/litre 95 ULP & LRP: decrease 22.00 c/litre Diesel: 0.05% Sulphur: decrease 42.00 c/litre 0.005% Sulphur: decrease 41.00 c/litre Illuminating paraffin: Wholesale: decrease 31.00 c/litre SMNRP: decrease 41.00 c/litre LPG (Liquefied Petroleum Gas): Maximum Retail Price: increase 46.00 c/kg 'The decrease in petrol, diesel, and illuminating paraffin prices provides immediate relief to South African motorists and businesses. In a fragile economy such as ours, this is a welcomed development that could ease inflationary pressures and provide a short-term boost in consumer spending power,' said Ramolahloane. With petrol down by 22 cents and diesel by up to 42 cents, the impact is tangible. LPG gas will be the only one to show a 46 cents per kilogram increase. 'For example, a motorist filling a 50-litre tank of 95 unleaded petrol will now save approximately R11 per fill. Diesel users, particularly in logistics and agriculture, stand to benefit from reductions of over R20 per tank,' he says. Ramolahloane says these lower input costs can support food security and job retention in fuel-intensive sectors such as agriculture, logistics, and public transport. 'For petroleum retailers, the increased volumes at service stations from consumers responding to lower pump prices are likely to provide a boost in revenue, particularly as retail margins remain stable.' The global oil market is being influenced by geopolitical factors, notably the recent escalation in trade tensions between the United States and China. The re-imposition of tariffs by the U.S. has disrupted oil demand, especially from China – a major Brent crude importer – leading to excess supply and driving down prices. 'While we welcome the current decline in prices, we must remain cautiously optimistic. Global market volatility and local political uncertainty under the newly formed Government of National Unity require close monitoring,' Ramolahloane concludes. At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
Zawya
06-05-2025
- Business
- Zawya
South Africa Fuel price relief: petrol and diesel costs to decrease in May
Motorists will breathe a sigh of relief from Wednesday as the cost of all grades of petrol is set to come down. This is as the Minister of Mineral and Petroleum Resources, Gwede Mantashe, announced the adjustment of fuel prices based on current local and international factors with effect from Wednesday, 7 May 2025. The price of petrol 93 (ULP and LRP) will decrease by 22c a litre while the price of 95 (ULP and LRP) will also come down by 22c a litre. Currently, a litre of petrol 95 costs R21.62 in Gauteng. As of Wednesday, this will come down to R21.40 a litre. At the coast, a litre of 95 petrol, which costs R20.79 a litre, will cost R20. 57 as of Wednesday. Meanwhile, the price of Diesel (0.05% sulphur) will decrease by 42c a litre and that of Diesel (0.005% sulphur) will come down by 41c a litre. The price of Illuminating Paraffin (wholesale) will decrease by 31c per litre. The Single Maximum National Retail Price (SMNRP) for illuminating paraffin will see a 41c decrease and the maximum LPGas Retail Price will increase by 46c per kilogram. 'The average Brent Crude oil price decreased from $71.04 to $66.40 during the period under review,' said the Department of Mineral and Petroleum Resources. It added that the tariff and trade war initiated by the United States which has raised global economic recession concerns, and a possible lower demand for crude oil, and oversupply of oil from non-Opec countries and the anticipated increase in oil production by Opec+ members were the main contributing factors for the fuel price adjustments. 'The average international petroleum product prices of petrol and diesel followed the decreasing trend of crude oil prices while the price of LPG increased due to higher freight (shipping costs) during the period under review,' said the department. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
