The United Kingdom (UK) High Commissioner, Antony Phillipson, is set to promote South Africa’s critical minerals at the upcoming Critical Minerals Africa (CMA) Summit in Cape Town on November 6-7. With South Africa being a key player in the energy transition due to its vast reserves of platinum, manganese, vanadium, and other essential minerals, Phillipson will explore opportunities for the UK to tap into the country’s supply chain to meet the growing demand for energy transition metals.
South Africa boasts up to 95% of the world’s platinum group metal reserves, 70% of its manganese reserves, and substantial reserves of vanadium, magnesium, nickel, and copper – all crucial for green hydrogen, solar PV, and energy storage technologies. The UK government, as one of the largest investors in South Africa, is mobilizing private and public sector investors to strengthen the country’s critical minerals value chain, focusing on exploration, production, and value addition for critical mineral projects.
During the CMA 2024 summit, Africa will be positioned as the primary investment destination for critical minerals, alongside the African Energy Week conference. Phillipson will also discuss the engagement of British investors and mining firms in advancing South Africa’s critical minerals value chain. UK companies such as Anglo American and Rio Tinto are already playing a significant role in the sector, with projects that contribute to the stability of the global supply market.
Overall, the collaboration between the UK and South Africa in the critical minerals sector presents lucrative investment opportunities for both countries, with the potential to drive economic growth and support the global transition to cleaner energy sources.
