British High Commissioner to South Africa, Antony Phillipson, is set to play a prominent role in promoting South Africa’s critical minerals at the upcoming Critical Minerals Africa (CMA) Summit in Cape Town from November 6-7, 2024. The summit provides a platform for the UK to deepen its partnership with South Africa on this crucial issue.
Strengthening the UK-South Africa Partnership
The UK’s commitment to supporting South Africa’s critical minerals sector was reaffirmed during President Cyril Ramaphosa’s State Visit to the UK in 2022. The two countries pledged to work together to promote the responsible exploration, development, production, and processing of minerals in South Africa.”African countries rightly have a high level of ambition for unlocking the value of their natural resources; and the UK will work with them in partnership to support delivery of their ambitions,” stated Phillipson.
Funding for Identifying Bankable Opportunities
In October 2023, the UK announced a R20-million funding commitment to help identify the most promising opportunities for African countries to attract investment into critical minerals processing. The study, to be carried out by Boston Consulting Group, will focus on South Africa and 13 other African nations.
“We are committed to increasing our investment in the continent and strengthening the transparency and resilience of the supply chain for critical minerals – creating green jobs in Africa, while taking action on climate change,” Phillipson emphasized.
Growing Demand for Critical Minerals
The demand for critical minerals is expected to more than triple by 2030, reaching over 30-million tonnes, as countries strive to meet net-zero commitments.
The UK’s support for South Africa’s critical minerals sector aligns with its broader strategy to secure supply chains and promote sustainable development in Africa.
Phillipson’s participation in the CMA 2024 summit underscores the UK’s commitment to strengthening its partnership with South Africa and driving investment in the critical minerals industry.
As the world transitions towards a greener economy, the responsible development of Africa’s mineral resources will be crucial for both economic growth and environmental sustainability.