Chairman of the Joburg Mining Indaba, Mr Bernard Swanepoel

Captains of the Industry

Distinguished Guests

Let me start by congratulating the organisers for convening yet another successful Joburg Indaba.  

Our continued participation at this Indaba stems from our belief that sustained engagement on mining in South Africa is vital to assess the state of the industry and identify pathways to improve its performance and contribution to our country’s socio-economic development.  

As we conclude this year’s Indaba, we are encouraged that – despite global headwinds and shifting geopolitical dynamics - the South African mining industry continues to make a positive contribution to our Gross Domestic Participation (GDP). 

This is evident by the sector’s second quarter performance, during which mining output grew by 3,7%, adding 0,2 of a percentage point to the GDP. Even more encouraging is that employment in the sector grew by 0,7%, reversing recent job losses and sustaining thousands of livelihoods.

This progress demonstrates that, through collaboration and a shared vision, mining can continue to serve as the backbone of our economy. It also shows that by prioritising exploration, local beneficiation, and research and development, we can maintain global competitiveness and drive sustainable growth.

The strong performance of platinum group metals (PGMs), gold, and chromium ore highlights their continued relevance to both our economy and global market trends.

It is within this context that our Critical Minerals Strategy recognises all minerals as essential drivers of economic growth, industrialisation, job creation, and national security.

Despite its long history of mining, gold remains a major contributor to our economy and employment. With gold prices reaching record highs, we must seize this opportunity through increased exploration and production. It is for this reason that gold has been included among the targeted minerals for the second window of the Junior Mining Exploration Fund. This is informed by the fact that over 40% of global exploration spending focuses on gold.

We welcome the imminent opening of a new underground gold mine by West Wits Mining, which serves as a positive sign of renewed investor confidence, and a demonstration of South Africa’s endowment with gold despite its century old history of mining.

Similarly, strong prices for platinum and palladium bode well for the PGMs sector. Given South Africa’s dominance in this market, these developments present opportunities to strengthen our position and influence.