Master of Ceremonies; Your Excellencies; Ministers and Deputy Ministers, including the Deputy Minister of Mineral and Petroleum Resources, Ms Phumzile Mgcina; Members of the Diplomatic Corps; the organisers of the Investing in African Mining Indaba; Captains of Industry and members of the investment community; the leadership of organised labour, civil society and our communities; and all distinguished guests.
It is both an honour and a privilege to welcome you once again to South Africa for the 32nd Investing in African Mining Indaba.
This year’s Indaba takes place at a time of profound global uncertainty. We are witnessing heightened geopolitical tensions, driven largely by competition among some developed economies seeking greater control over the natural resources of developing nations. This dynamic poses a serious threat to the sovereignty of resource-endowed countries, the majority of which are located here on the African continent.
It is therefore fitting that the theme of this year’s Indaba is “Stronger Together: Progress Through Partnerships.” For us, this is not merely a slogan, but a strategic imperative. Africa must act collectively, speak with one voice, and resist the destructive race to the bottom in our engagement with global powers and investors.
It is in this spirit that we convened the second edition of the African Ministers’ Critical Minerals Roundtable, in partnership with the African Union. This platform brought together governments, investors and strategic partners to strengthen 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 mineral endowment. As agreed last year, our partnerships must move beyond extraction towards industrialisation and value addition closer to the point of production.
As indicated at last year’s Mining Indaba, in 2024 South Africa undertook a comprehensive study on the state of mining, alongside the development of our Critical Minerals Strategy. I am pleased to report that this work has now been completed. The strategy is in place and its implementation is underway. In line with the G20 declaration, this achievement has not only shaped South Africa’s critical minerals agenda, but has also positioned Africa more broadly to assert greater control over its strategic resources.
A central pillar of this strategy is the review of our regulatory framework. Allow me to reaffirm our commitment to creating a regulatory environment that is more certain, predictable and transparent—one that attracts investment while ensuring that the benefits of our mineral wealth are shared equitably with all South Africans.
We recognise that exploration is the lifeblood of mining. For this reason, we have removed the requirement for Black Economic Empowerment participation at the prospecting stage. This is not a retreat from transformation, nor an endorsement of the misguided view that black participation is a barrier to economic growth. Rather, it is a pragmatic recognition that prospecting is a high-risk phase where economic value has yet to be proven. This change is intended to stimulate exploration, increase South Africa’s share of global exploration investment, and expand the pipeline of future mines.
Encouragingly, our renewed exploration drive is already bearing fruit. New geological data points to substantial untapped mineral potential beneath South African soil—potential that we are eager to unlock through inclusive development. A powerful example of this progress is the success of projects supported by the Junior Mining Exploration Fund. In the Bothaville district of the Free State, a JMEF-supported project has advanced to an intensive drilling phase targeting rare earth elements and associated minerals, demonstrating that our subsurface potential remains far from fully understood or realised.
The second round of the JMEF is now underway, with 80 applications received targeting minerals including tin, tungsten, titanium, uranium, gold, antimony, arsenic, fluorspar, copper and lithium. To further accelerate exploration, I invite all of you to visit the South African Pavilion for the launch of the Council for Geoscience’s Virtual Core Library. This landmark initiative will transform how geological data is accessed, shared and utilised, making South Africa an even more attractive destination for exploration investment.
While our regulatory review process continues, we are encouraged by ongoing investment in the sector. Recent developments include the opening of operations such as the Qala Shallows Gold Mine by West Wits Mining, Arnot OpCo’s open-cast colliery, Seriti’s Naudesbank Colliery, the commencement of production at Ivanplats’ Platreef Mine, and Ikoti Coal’s underground operations.
Furthermore, between February 2025 and January 2026, the department granted 358 prospecting rights and 32 mining rights. This reflects continued confidence in South Africa as a mining investment destination of choice. We are committed to honouring that confidence by delivering a fair, efficient and transparent licensing system that supports growth while safeguarding our national interests.
As I conclude, I would like to commend the South African mining industry for achieving the lowest mine fatalities on record. In 2025, fatalities declined to 41, surpassing the previous benchmark of 42 recorded in 2024. While one life lost is one too many, this achievement demonstrates that collective effort brings our Zero-Harm goal increasingly within reach.
