Cabinet backs six-pillar Critical Minerals Strategy Implementation Plan
South Africa’s Critical Minerals Strategy Implementation Plan has been approved by Cabinet, which claims it will significantly contribute to economic growth and job creation.
In May, Cabinet approved the Critical Minerals and Metals Strategy for South Africa, which listed platinum, manganese, iron-ore, chrome ore, and more controversially coal, as “high-critical minerals”, while gold, vanadium, palladium, rhodium, and rare earth elements were characterised as being of moderate to high criticality.
The implementation plan is described in the post-Cabinet statement as a roadmap for leveraging opportunities arising from the surge in demand for critical minerals as a result of their increased application in digital technology, defence, healthcare, consumer electronics, and electric vehicles.
It focuses on six pillars, including: geoscience mapping and exploration; value addition and localisation; research, development and innovation; infrastructure and energy security; financial instruments; and regulatory harmonisation.