Mining Sector Debates African Value Addition And Path To Net Zero

Mining executives, government ministers, start-up founders, and others with a connection to mining convened at the Cape Town Convention Centre in February this year for the annual Mining Indaba.

This year's theme - 'future-proofing African mining today' - was accompanied by key pillars including mining's role in industrialising Africa and community growth, the delivery of effective net zero strategies, the introduction of game-changing technologies, and the prioritisation of health and safety.

Opening the conference, South African minister of mineral and petroleum resources Gwede Mantashe said that it was long overdue for Africa to use its mineral wealth for its development, especially as the critical minerals which it has in abundance come to play a central role in the global economy.

"The truth of the matter is that Africa is the world's richest mining jurisdiction, possessing at least 90 of the world's chromium and platinum, 40 of the world's gold, and the largest reserves of the world's cobalt, vanadium, manganese, and uranium. Despite having these abundant mineral resources, Africa remains poor, and this must change," Mantashe said. "We have something that the world wants. We are not beggars. We must use that endowment for our own benefit as a continent."

For decades, African countries have exported minerals with limited local beneficiation, with only a fraction of its true value captured on the continent. Mantashe estimated that while South Africa has approximately 37 of the world's manganese ore reserves, only 2 of its manganese ore is currently processed in the country.