The largest mining investment summit in Africa has commenced in Cape Town, bringing together key stakeholders to discuss the future of the industry and investment prospects across the continent.
The four-day event, themed “Future-proofing African Mining, Today!”, has drawn participation from government ministers, industry experts, and global investors.
Speaking at the opening, South Africa’s Minister of Mineral and Petroleum Resources, Gwede Mantashe, who represented President Cyril Ramaphosa, urged African nations to harness their vast mineral wealth to drive economic growth amid increasing global demand for critical minerals.
Despite possessing some of the world’s largest mineral reserves, Africa remains economically underdeveloped, Mantashe noted. “Africa is the richest mining region globally, holding around 90% of the world’s chromium and platinum, 40% of its gold, and substantial reserves of cobalt, vanadium, manganese, and uranium,” he stated. He emphasized that African citizens should benefit from their natural resources, rather than seeing wealth flow outside the continent.
“We invite investors to South Africa. Come, make your money, create jobs for our people, and meet the conditions we set,” he added.
Mantashe also responded to recent remarks by former US President Donald Trump, who threatened to cut financial support to South Africa following President Ramaphosa’s approval of the Expropriation Bill—a law allowing land expropriation for public interest. Mantashe suggested that African nations could leverage their mineral wealth in response.
“If they withdraw funding, we can withhold minerals. The US takes resources from Africa while claiming to cut financial support,” he said, stressing, “We are not beggars.”
Trump had accused South Africa of land confiscation and mistreatment of certain groups, calling it a “human rights violation” in a post on his Truth Social platform.
President Cyril Ramaphosa dismissed Trump’s allegations, clarifying that the Expropriation Act is a legally guided process ensuring fair land access rather than outright confiscation.
“The South African government has not seized any land. The law aligns with the constitution to promote equitable land distribution,” Ramaphosa said in a statement.
The mining summit continues over the next three days, with discussions focusing on sustainable mining practices, investment strategies, and Africa’s role in the global minerals market.