The G20 Leaders’ declaration has highlighted critical minerals as key drivers of economic growth and sustainable development, creating opportunities for South African and African industries to expand into processing and value-added production.
Minister of International Relations Ronald Lamola said the framework establishes a cooperative approach for the continent.
“Africa now has a compact with the G20 that makes the implementation of beneficiation practical and achievable. The declaration advances this further by focusing on the continent as a whole,” he said.
Minister in the Presidency Khumbuzo Ntshaveni told Vutivi Business News on the sidelines of the G20 Summit that Africa, home to the world’s largest reserves of critical minerals, must extract resources responsibly.
“Africa is the largest reserve of critical minerals, so we cannot avoid extracting them. But we must produce in a way that is responsible and protects the climate for future generations. The G20 Critical Minerals Framework allows us to do this while creating sustainable economic opportunities for our people,” Ntshaveni said.
Analysts say the framework could help South Africa’s SMEs and industrial players participate in downstream activities that add value to raw minerals, attract investment, and create jobs. By encouraging responsible extraction, it also positions Africa as a central player in global critical mineral supply chains.
President Cyril Ramaphosa, emphasised the broader economic potential for the continent.
“The greatest opportunity for prosperity in the 21st century lies in Africa. Harnessing that opportunity will require a strong partnership between Africa and the G20, and indeed between Africa and the rest of the world,” President Ramaphosa said.
The framework aligns economic growth with sustainability, offering businesses a chance to invest in value addition, industrial capacity, and long-term development while supporting the continent’s role in global markets.
basetsana@vutivibusiness.co.a
