Africa should assert its powerful position as a major global producer of minerals and take advantage of rising global demand to unlock beneficiation benefits to create a better life for its people. This was the message from South African Minister of Mineral and Petroleum Resources, Gwede Mantashe on the opening day of the Investing in African Mining Indaba 2025 event being held in Cape Town this week.
“Africa is the world’s richest mining jurisdiction,” Mantashe said. “We should internalize that and use it to our advantage. We have something that the world wants. We are not beggars. We must use that endowment for our own benefit as a continent.”
Mentioning recent threats by the United States to withhold funding in response to certain African political policies, Mantashe said Africa should not be dictated to by industrialized nations. “They want to withhold funding, but they still want our minerals,” he said. “Let’s withhold minerals. Africa needs to assert its advantage and take charge of the growing demand.”
Mantashe delivered the opening address at Investing In African Mining 2025, the 31st edition of the event, with the theme “Future-proofing African Mining. Today.”
Mantashe pointed out that the mining sector was entering a time of enormous opportunity, as demand soared for a range of new commodities – the so-called “critical minerals” expected to drive new-energy industries as well as technology.
“Gold mining might be in decline in some territories,” Mantashe said. “But the obituaries that have been written for mining at large are premature. Nickel, vanadium, copper, manganese, platinum and many rare-earth elements are all found on this continent. Those are the minerals of the future.”
However, Mantashe warned against Africa becoming defined only as a producer of raw commodities. He said the continent needed to enhance its beneficiation capabilities, which generates significantly more value than primary exports.
Underpinning this objective was a need for reliable, affordable and consistent electricity supplies. “Without electricity, we cannot beneficiate,” he said.
“African countries must define critical minerals in their own ways,” he said. “In South Africa, for instance, coal is a critical mineral. It is the second-biggest employer in mining. It generates significant export earnings. That means for South Africa, coal is a critical mineral.”
Mantashe welcomed investors to Africa, and encouraged them to build viable, profitable businesses so that they could have positive impacts for their host communities.
Mantashe concluded by saying that he hoped that South Africa’s hosting of the G20 Summit in November would make 2025 the year of an “African G20.” He encouraged African nations to collaborate in shaping policy positions that meet the needs of the continent.