Developing a unified position for Africa's mining sector
Wrapping up the Future Minerals Forum in Saudi Arabia, CNBC Africa’s Nastassia Arendse spoke with Ntokozo Nqcwabe, Deputy Director General at the Department of Mineral Resources and Energy in South Africa, to discuss the latest progress and partnership between the two countries.
Fri, 17 Jan 2025 16:06:49 GMT
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AI Generated Summary
- South Africa and Saudi Arabia are advancing their partnership to drive investments and projects in the mining sector, with a focus on translating agreements into tangible actions.
- Efforts are underway to establish centres of excellence, streamline regulatory processes, address logistical challenges, and promote industry reforms to attract global investors to South Africa.
- Engagements with other African countries aim to foster a common position within the G20 Presidency of South Africa, driving initiatives for sustainable growth and beneficiation in the continent's mining sector.
South Africa and Saudi Arabia have come together at the Future Minerals Forum to discuss the progress and partnership between the two countries. Ntokozo Nqcwabe, the Deputy Director General at the Department of Mineral Resources and Energy in South Africa, provided insights on the developments following the President's visit to Saudi Arabia, where a significant agreement was signed to facilitate investments and projects between the nations. The forum served as a platform to address key outcomes and resolutions from the previous year, with a focus on translating memorandums of understanding (MOUs) into tangible action. The collaboration between South Africa and Saudi Arabia is moving beyond rhetoric and paperwork, with concrete projects and initiatives taking shape, attracting the attention of global investors. One of the key areas of focus has been the establishment of centres of excellence, spearheaded by the Council for Scientific and Industrial Research (CSIR) in South Africa. The ministers from various African regions have emphasized the importance of driving meaningful impact and delivering results that benefit not only Saudi Arabia but also individual African countries like South Africa. The partnership between South Africa and Saudi Arabia extends to joint projects, such as a platinum asset in the Limpopo province, showcasing the commitment to fostering cooperation and progress in the mining sector. The South African government has been proactively addressing logistical challenges and regulatory reforms to create a conducive environment for investment. Efforts to streamline processes, improve infrastructure, and enhance industry regulations are underway to position South Africa as an attractive destination for global investors. With a focus on leveraging its geological wealth and technological advancements, South Africa is sending a clear message that it is open for business and offers lucrative opportunities for mining ventures. Engagements with ministers from other African countries have been pivotal in aligning the continent's mining sector under a unified position within the G20 Presidency of South Africa. The commitment to adopting a green mineral strategy for Africa and promoting beneficiation initiatives demonstrates a collective effort to drive sustainable growth and development across the region. The upcoming ministerial roundtable in Java is poised to further enhance collaboration and coordination among African nations, paving the way for strategic partnerships and synergies in the mining industry.