President Cyril Ramaphosa addressing global leaders at the UNGA roundtable on critical minerals processing, highlighting the need for sustainable and inclusive growth in the sector. Image: @PresidencyZA
(The Post News)- President Cyril Ramaphosa delivered a compelling address that underscored the critical role of South Africa’s mineral wealth in the global green energy transition at the recent Business Council for International Understanding (BCIU) and Prosper Africa African Minerals Forum. Held on September 23, 2024, this forum brought together key stakeholders to discuss the future of Africa’s mineral resources and their potential to drive sustainable development.
The country’s mineral wealth includes a significant proportion of the world’s platinum, gold, and chromium, among others. These minerals are essential in various industries, including technology, renewable energy, and automotive, which are central to the transition to a green economy. President Cyril Ramaphosa made a direct appeal to US business and banking leaders to invest in the country’s burgeoning critical minerals sector. With global demand for these minerals skyrocketing due to the green energy transition, Ramaphosa emphasised South Africa’s strategic position as a reliable and sustainable supplier.
British Robinson, Coordinator of Prosper Africa, highlighted the longstanding partnership between the US and South Africa, emphasising the need to deepen cooperation in the critical minerals sector. She stressed the potential for job creation, economic growth, and sustainable development through collaborative efforts.
President Ramaphosa, in his address, underscored his government’s commitment to creating a favourable investment climate. He highlighted the importance of driving structural reforms, leveraging the strengths of key economic sectors, and improving the ease of doing business in South Africa.
The President specifically pointed to the potential for collaboration with the US, acknowledging its expertise in advanced mining technologies, automation, and sustainable practices. He expressed South Africa’s desire to strengthen ties with US companies and institutions to foster technological advancements, enhance supply chain efficiencies, and attract investment into the mining sector.Ramaphosa highlighted the potential economic benefits of investing in mineral beneficiation, citing estimates that it could boost the region’s GDP by 12% or more by 2050. He further noted that African countries could generate an additional USD 24 billion annually and create 2.3 million jobs by investing in domestic processing.
President Ramaphosa’s engagement with global business and banking leaders underscores the importance of international cooperation in achieving sustainable development goals.The path forward is clear: through unity and cooperation, Africa’s mineral wealth can power a sustainable and prosperous future for all.
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