05/12/2024
Mining News

British High Commissioner to address Critical Minerals Africa Summit on South Africa’s role in energy transition

British High Commissioner Antony Phillipson will address the Critical Minerals Africa (CMA) Summit in Cape Town on November 6-7, 2024. He will emphasize South Africa’s pivotal role in the global energy transition due to its extensive reserves of platinum, manganese, vanadium and other essential minerals. Phillipson will discuss how the UK can integrate South Africa’s supply chain to meet the surging demand for energy transition metals. South Africa holds up to 95% of the world’s platinum group metal reserves, 70% of manganese reserves, and significant amounts of vanadium, magnesium, nickel and copper—crucial for green hydrogen, solar PV and energy storage technologies.

As a major investor in South Africa, the UK government is mobilizing both private and public sector resources to enhance South Africa’s critical minerals value chain, focusing on exploration, production, and value addition. In March 2024, the British High Commission in Pretoria selected two startups for the 2024 Climate Finance Accelerator in South Africa. The program offers technical and financial support to innovative startups. Creslow Energy Solutions, based in Mpumalanga, will use UK support to advance its renewable battery manufacturing. Manganese Metal Company will establish a 5,000-ton per annum manganese sulfate monohydrate plant in Mbombela to meet rising battery demands for electric vehicles.

Supported by

At CMA 2023, Phillipson announced a R20 million funding package to help African nations, including South Africa, optimize in-country critical mineral processing and value addition. To boost global demand for platinum group metals (PGMs), UK mining firm Anglo American partnered with international energy company Sasol and automaker BMW to pilot green hydrogen vehicles in South Africa in October 2023. At CMA 2024, Phillipson will outline how the UK Commission is engaging with British investors and mining companies to advance South Africa’s critical minerals value chain.

In the upstream sector, UK companies are major investors and producers of critical minerals in South Africa. Anglo American, a leading global PGM producer, operates several key mines in South Africa, including Mogalakwena, Amandelbult, Matotolo, Der Brochen, and Twickenham. The company increased its nickel production by 42% to 4,700 tons and copper production by 22% to 3,300 tons in the first quarter of 2024, bolstering South Africa’s global market contribution.

Rio Tinto manages the Richards Bay Minerals project, South Africa’s largest mineral sands mine, producing rutile, iron, slag, and zircon essential for smartphones and electronic devices. At CMA, Phillipson will provide updates on UK-funded critical mineral projects in South Africa and present investment opportunities for UK stakeholders.

James Chester, CEO of Energy Capital & Power, commented, “UK companies play a crucial role in advancing South Africa’s critical minerals value chain. As South Africa seeks to leverage the growing demand for critical minerals for economic growth, investment opportunities for UK private and public sector mining stakeholders are expanding.”

Related posts

Canada-United States partnership on critical minerals crucial amid China’s export restrictions

Argentina approves McEwen Mining’s $2.5 billion Los Azules copper project, set for 2026 construction Start

David Lazarevic

Zijin Mining acquires Pan American Silver’s La Arena mine in Peru for $245 million

David Lazarevic
error: Content is protected !!