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.
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“This year’s Indaba convenes at a moment of profound global uncertainty. We are witnessing heightened geopolitical tensions, driven largely by the competition of some developed economies seeking greater control over the natural resources of developing nations.
“This dynamic represents a serious threat to the sovereignty of resource-endowed countries, the majority of which are here on the African continent.
“It is, therefore, befitting that the theme of this year’s Indaba is: ‘Stronger Together: Progress Through Partnerships’. To us, this is not merely a slogan – it is a strategic imperative for Africa to act collectively, speak in one voice, and avoid the destructive race to the bottom in our engagement with global powers and investors,” Mantashe said.
He noted that the African Ministers’ Critical Minerals Roundtable, hosted together with the African Union on the sidelines of the Indaba, is a platform aimed at strengthening “continental leadership on…critical minerals”.
“Our objective is to deepen collaboration, accelerate responsible exploration and mining, and ensure that Africa captures greater value from its own mineral endowment.
“As per the consensus reached last year, our partnership must move beyond extraction to industrialisation and value addition closer to the point of production.”
Turning to the South African mining industry, the Minister revealed that work to undertake a comprehensive study on the state of mining alongside the development of the Critical Minerals Strategy has now been completed.
“The strategy is in place, and its implementation is underway.
“As per the G20 declaration, this achievement has not only shaped South Africa’s critical minerals agenda – it has also positioned Africa more broadly to assert greater control over its strategic resources,” the Minister said.
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Part of the strategy contains a review of South Africa’s regulatory framework.
“Let me take this opportunity to reaffirm our commitment to creating a regulatory framework that is more certain, more predictable, and more transparent – one that attracts investment while ensuring that the benefits of our mineral wealth are shared equitably with all South Africans,” he emphasised.
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” or an endorsement of the view that “black participation is a barrier to economic growth”.
“It is rather a pragmatic recognition that prospecting is a high-risk phase where no economic value has yet been proven.
“This change is designed to stimulate exploration, increase South Africa’s global share of exploration investment, and ultimately expand the pipeline of future mines,” he explained.
The Minister added that while the regulatory review process continues, green shoots are starting to bear fruit including the opening of operations at least five mines.
Furthermore, the department has granted: 358 prospecting rights and 32 mining rights between February 2025 and January 2026.
“This demonstrates continued confidence in South Africa as a mining investment destination of choice.
“We are committed to honouring that confidence by driving a fair, efficient, and transparent licensing system that supports growth while protecting our national interests,” Mantashe said.