Republic of South Africa, Minister of Mineral and Petroleum Resources, the Hon. Gwede Mantashe told delegates on day one of Africa Downunder in Perth that South Africa was working to reinvigorate its exploration sector and firm its policies for the critical minerals sector.
When asked what success might look like in that regard, the Minister Mantashe said from where he was currently sitting success would be his country determining the value and future of its own minerals.
“For more than a century now South Africa had been picked apart and everybody else has determined what happened with our minerals – we have been a price taker,” Minister Mantashe said.
In specific regard to critical minerals in the country, Minerals Council South Africa CEO Mzila Mthenjane said the approach it had been engaged in with other key agencies was to determine which minerals were in fact critical to South Africa and why.
“We have spent time understanding what the definition of critical minerals have come to be for America, Australia, Canada and China. For those countries it is firstly about economic drive, it’s about the energy transition, and it’s about the technology,” Mr Mthenjane said.
“From a South African and African perspective, the important thing is development. So, when we look at the definition of what would be critical for South Africa, yes it includes what the global north have defined, but with less emphasis on military supremacy, but certainly a focus on economic drive.
“We also looked at the critical minerals that South Africa has dominance in, which means sustainability, and the social benefits to flow from that. There is also a need to embark on a transition in a way that is just.”
Orion Minerals managing director and CEO Errol Smart added that at the end of the day, companies had to go where the mineral opportunities were, including South Africa, but miners also had a responsibility to extract them in a way that is optimal.
Mr Smart said there were global groups looking at procuring these minerals and some of them needed to start putting their money where their mouth was, and not just funding exploration and mining, but start putting the beneficiation facilities in those countries to create value and be enablers.
“I think that first step of beneficiation can be achieved and that is something that is going to make a change. Given the capital cost, it is not something for a junior miner or an explorer, or even a major miner necessarily to be doing, but the investment is required.”
