Africa Must Seize Mineral Wealth to Forge a Prosperous Future

The African continent stands on the cusp of a mining revolution, as stated by South African Minister of Mineral and Petroleum Resources, Gwede Mantashe.

Addressing the Investing in African Mining Indaba 2025 event in Cape Town, Mantashe emphasized the urgent need for Africa to leverage its extensive mineral wealth to drive beneficiation and secure a brighter future for its people.

With Africa holding a staggering 30% of the world’s mineral reserves, including South Africa’s status as the leading producer of platinum-group minerals and the Democratic Republic of Congo’s dominance in cobalt production, Mantashe asserted, “Africa is the world’s richest mining jurisdiction.” He urged the continent to internalize this fact and utilize it for the continent’s advantage rather than merely supplying raw materials at low prices set by global markets.

During the event, Mantashe highlighted the significant opportunity for the African mining sector as global demand for critical minerals surges, driven by new-energy industries and technological advancements.

He pointed out that while traditional mining sectors such as gold might be in decline, minerals like nickel, vanadium, copper, manganese, platinum, and rare-earth elements hold the promise of the future.

However, the minister warned against Africa’s over-reliance on exporting raw commodities. He emphasized the importance of enhancing beneficiation capabilities, which provide far greater value than primary exports.

“We cannot be part of a race to the bottom,” he said. “In the case of manganese, there is more value in exporting manganese alloys than the raw manganese commodity.”

The call to action extends beyond mere mineral extraction. Mantashe stressed the necessity for reliable, affordable, and consistent electricity supplies to enable beneficiation processes.

“Without electricity, we cannot beneficiate,” he noted, linking this to the broader energy challenges facing South Africa.

Amidst the global geopolitical landscape, Mantashe also touched on recent threats by the United States to withhold funding in response to African political policies.

He stated, “They want to withhold funding, but they still want our minerals. Let’s withhold minerals. Africa needs to assert its advantage and take charge of the growing demand.”

The impact of Africa’s mining potential extends beyond the continent. With the world increasingly turning to Africa for critical minerals essential for the ‘green’ renewable energy transition, African nations have a unique opportunity to shape global markets.

Mantashe urged African nations to define their own critical minerals, not be dictated by industrialized countries, and emphasized the role of coal in South Africa’s economy as a critical mineral.

Moreover, Mantashe called for stronger partnerships and regional integration among African nations. He encouraged them to adopt a unified stance when negotiating mining deals, much like Europe does. “Africa needs to stand together,” he said, earning applause from the audience.

In conclusion, Mantashe expressed hope that South Africa’s hosting of the G20 Summit in November would mark 2025 as the year of an “African G20,” fostering collaboration among African nations to shape policies that meet the continent’s needs. “Let’s build the Africa we want by working together,” he said.

By taking assertive actions and seizing the opportunity presented by rising global demand for critical minerals, Africa has the potential to secure a prosperous future and uplift its communities, truly sharing in the continent’s mineral wealth.

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