Programme Director,
Africa Director of the United Nations Development Programme, Ms Ahunna Eziakonwa
Director-General of the DMPR, Mr Jacob Mbele
Representatives of the African Union,
Captains of Industry,
Esteemed Panelists
Distinguished Guests,
We meet at a time when the global economy is undergoing a profound structural shift - at the centre of which lies the growing demand for critical minerals. This growing demand has the potential to be a game-changer in tackling the challenge of global inequality if managed carefully.
The reality that we are facing is that this global race for critical minerals is reshaping trade dynamics, geopolitics, and industrial policy across the world.
Despite its long and distinguished history of mining, Africa remains richly endowed with not less than 30% of the world’s known reserves of these sought-after mineral resources - including, but not limited to, platinum group metals (PGMs), manganese, iron ore, chrome ore, cobalt, lithium, graphite, and rare earth elements.
Alongside these are the more traditional yet equally critical minerals such as gold, coal, and diamonds – all of which continue to anchor our economies and provide the much-needed employment for our people.
The global demand for these critical minerals is expected to more than double by 2040 - Africa must capitalise on this.
These resources present the continent with a distinct opportunity to stimulate sustainable economic growth, create employment, and drive Africa’s re-industrialisation agenda.
However, despite this abundance, the continent remains largely trapped in pit-to-port models, with limited beneficiation and minimal participation in global mining value chains. This historical pattern has left us contending with underdeveloped infrastructure and unequal access to downstream economic benefits, as supply chains remain concentrated in a few industrialised economies.
Mindful of this reality, South Africa has developed its Critical Minerals and Metals Strategy – a coherent roadmap to leverage our mineral wealth for inclusive economic growth, industrial development, and sustainable transformation.
The strategy seeks to elevate South Africa’s role in global mining value chains – from being primarily an exporter of raw minerals to becoming a key player in value-added production and supply chain integration. We want to move beyond raw material extraction to invest in value-added local processing and manufacturing.
Recognising that this challenge is not unique to South Africa, we have used South Africa’s G20 Presidency, under the theme “Solidarity, Equality, and Sustainability”, to prioritize critical minerals as a key area for international cooperation – not only among G20 members, but also with industry, regional bodies, and development partners.
We must encourage inclusive partnerships that prioritise local development, environmental sustainability and community benefits.
It is against this backdrop that the G20 Critical Minerals Framework is being developed and negotiated as a global commitment to building transparent, inclusive, and sustainable critical mineral supply chains.
In line with South Africa’s own approach, the G20 Critical Minerals Framework is structured around six interrelated strategic pillars, each addressing challenges across the value chain:
A persistent challenge we must address is the exploration financing gap faced by many mineral-endowed countries. The fact remains that early-stage exploration is inherently high risk and often underfunded.
To close this gap, the framework calls for greater investment in geological surveying and exploration initiatives in under-served regions – facilitated through development banks, regional geological agencies, and existing financing mechanisms.
In South Africa, we are beginning to see encouraging cooperation between government and industry through the Junior Mining Exploration Fund, established to support junior companies facing barriers to meaningful exploration.
We are confident that this initiative will stimulate greenfield exploration and expand brownfield projects, thereby unlocking new potential for growth.
Allow me to highlight another vital pillar of the framework - Governance and Standards on Economic, Social and Environmental Aspects. This pillar underscores the need for robust frameworks to ensure that the exploitation of critical minerals contributes positively to sustainable development. It calls for action to combat illicit activities, strengthen regulatory capacity, and promote responsible mining practices.
Achieving success here will create a level playing field, enable fair competition, and support fair trade.
A further cornerstone of the framework is enabling mineral-endowed nations – such as ours - to move up the value chain by refining ores and producing value added products closer to the point of production.
The framework, therefore, promotes investment in value chains and infrastructure to empower developing countries, while respecting national sovereignty. This includes supporting in-country beneficiation, improving transport and energy infrastructure, and building industrial ecosystems that extend beyond mining into manufacturing and technological development.
There is also consensus on the need to cooperate in the upskilling of the workforce for mineral processing and innovation.
Due to the divergences in ideological and regional differences, there were areas of disagreement on some aspects of the framework – particularly around climate language, trade principles, and inclusivity terminology. However, there is a broad consensus that critical minerals have become an essential domain for international cooperation. For that reason, there is a collective willingness to adopt the framework as a starting point for continued development under future G20 presidencies.
Building on the success of the July G20 Critical Minerals Stakeholder Engagement, we considered it prudent to convene this session - in partnership with the United Nations Development Programme (UNDP) - as a regional dialogue platform ahead of the G20 Leaders’ Summit.
We trust that your participation today will enrich our collective understanding, help operationalise the G20 Critical Minerals Framework, and translate policy commitments into practical action.
Together, we can strengthen collaboration among governments, industry, regional bodies and development partners, thus ensure that our mineral wealth becomes a foundation for shared prosperity and sustainable growth.
I thank you.