Cape town: Mineral and Petroleum Resources Minister Gwede Mantashe has called on African countries to work together at a 'moment of profound global uncertainty'. The Minister was speaking at the Investing in Africa Mining Indaba, which opened in Cape Town on Monday. The annual Indaba is a gathering of African leaders, industry stakeholders, and investors to discuss the development of Africa's mineral resources.
According to South African Government News Agency, Mantashe highlighted the heightened geopolitical tensions driven by developed economies seeking greater control over the natural resources of developing nations. He stressed that this competition represents a serious threat to the sovereignty of resource-rich countries, the majority of which are in Africa. Mantashe emphasized the importance of the Indaba's theme, 'Stronger Together: Progress Through Partnerships', as a strategic imperative for Africa to act collectively and avoid destructive competition in engaging with global powers and investors.
The Minister also noted the African Ministers' Critical Minerals Roundtable, hosted with the African Union on the sidelines of the Indaba, aimed at strengthening continental leadership on critical minerals. He stated that the objective is to enhance collaboration, accelerate responsible exploration and mining, and ensure Africa captures greater value from its mineral endowment. He emphasized that Africa's partnership must extend beyond extraction to industrialization and value addition closer to production.
Turning to the South African mining industry, Mantashe revealed that the development of the Critical Minerals Strategy has been completed, and its implementation is underway. He indicated that this strategy has shaped South Africa's critical minerals agenda and positioned Africa to assert greater control over its resources. The strategy also includes a review of South Africa's regulatory framework to ensure a more certain, predictable, and transparent environment that attracts investment while sharing mineral wealth benefits equitably.
On the removal of the requirement for Black Economic Empowerment (BEE) participation at the prospecting stage, Mantashe assured that this is not a retreat from transformation but a pragmatic recognition of the high-risk phase of prospecting. This change aims to stimulate exploration, increase South Africa's global share of exploration investment, and expand the pipeline of future mines. He added that the regulatory review process is yielding positive results, including the opening of operations at five mines and the granting of 358 prospecting rights and 32 mining rights between February 2025 and January 2026.
