Cape town: Africa's mineral wealth is positioning the continent as a central player in the industries of the future, ranging from clean energy to advanced manufacturing, as the demand for critical minerals accelerates the global energy transition.
According to South African Government News Agency, Deputy Minister in The Presidency Kenny Morolong emphasized this burgeoning role while delivering the keynote address at Brand South Africa's Investing in Africa Mining Indaba Welcome Reception Dinner held at The Capital Hotel in Cape Town on Sunday evening. The event was a precursor to the official opening of the Mining Indaba on Monday, 09 February.
Morolong outlined Africa's strategic shift from being a primary supplier of raw materials to becoming a global hub for industrial value addition, propelled by clean energy technologies and advanced manufacturing. He articulated a bold vision for the continent's future under the theme of "industrialising Africa at scale."
He highlighted the fundamental role of minerals in modern economies, asserting their increasing importance as the world moves towards decarbonisation. "Wherever we are or come from in the world, metals and minerals are part of our daily lives. Minerals are a lifeblood of any modern and modernising society," Morolong stated.
Morolong pointed out that Africa stands at a crossroads, with an unprecedented opportunity to transition from merely supplying raw materials to becoming a center for industrial value addition and innovation. He noted the pressing demand for critical minerals like lithium and rare earth elements, predicting their value would soon surpass that of fossil fuels globally.
Morolong projected that the demand for such minerals would nearly triple by 2030 and quadruple by 2040. He added that cumulative revenues from critical minerals through 2050 would be more than three times greater than those from fossil fuels, emphasizing their significant future value to the global economy.
The Deputy Minister underscored the strategic position Africa, and particularly South Africa, holds in the emerging global landscape. He portrayed South Africa as a gateway to an integrated African economy, focused not just on the trade of raw materials but on producing tertiary goods like batteries and solar panels that will define the 21st-century economy.
To ensure value addition occurs within the continent, Morolong noted that African countries have started restricting the export of unprocessed critical minerals. This policy shift is supported by frameworks such as the African Union's African Green Minerals Strategy, adopted in 2024, guiding nations in leveraging critical minerals for industrialization.
Addressing South Africa's mining sector, Morolong acknowledged its foundational role in the economy and the necessity of managing it sustainably. He outlined government reforms designed to enhance the investment climate, including streamlining licensing processes and addressing energy and infrastructure challenges.
Morolong reiterated the importance of infrastructure development in realizing Africa's industrial ambitions, emphasizing the need for reliable power, transportation networks, and logistics. He reaffirmed South Africa's commitment to the African Continental Free Trade Area (AfCFTA), which aims to create a single African market valued at US$3.4 trillion.
He invited investors to forge long-term partnerships with Africa, offering mutually beneficial outcomes, attractive returns, and sustainable development. The reception, hosted by Brand South Africa, set the stage for the Mining Indaba 2026, uniting global leaders, policymakers, investors, and industry stakeholders under the theme "Mining in Transformation: Fuelling Africa's Sustainable Future."
