MINERAL AND PETROLEUM RESOURCES
REPUBLIC OF SOUTH AFRICA
SPEAKING NOTES BY THE HONOURABLE
DEPUTY MINISTER OF MINERAL AND PETROLEUM RESOURCES
PHUMZILE MGCINA
China Mining Conference and Expo
International Ministerial Forum
24 October 2025
Master of Ceremonies,
Your Excellencies, Ministers and Deputy Ministers
Members of Diplomatic Corps
Distinguished Guests
It is an honour to represent the Republic of South Africa in this important
International Ministerial Forum – an invaluable platform for engagement
among nations on the future of the mining industry.
Your Excellencies, mining as we know it is evolving. Once defined by gold
and diamond extraction, the mining industry is rapidly diversifying into
a technologically advanced sector encompassing platinum, manganese,
coal, chrome, iron ore, and a growing range of rear earth elements.
As highlighted yesterday, the global demand for these minerals is
souring. This surge has intensified competition and, at times, geopolitical
tensions over access, control, and management of these resources. This
reality underscores the need for greater collaboration in advancing
sustainable and inclusive mining development.
This forum, therefore, comes at a critical point in the history of mining,
where we can collectively shape strategies that deepen cooperation
and promote responsible growth across the sector.
The South African mining industry has long been a cornerstone of our
national development. Known globally for its rich history in gold and
diamond mining, the industry has largely driven our industrialisation and
continues to play a vital role in sustaining our economic and fiscal health.
Despite its long heritage, gold remains a major contributor to our
economy. Our study on the State of Mining has shown that South Africa
is currently the thirteenth (13th) largest gold producer globally and fourth
(4th) largest in Africa, with approximately 40% of our gold exports destined
for China.
Similarly, despite the shifting global demand patterns and the rise of
synthetic diamonds, South Africa’s natural diamond sector remains
globally competitive due to the superior quality and prestige of its stones.
Projects such as the Cullinan and Venetia, among others, continue to
produce exceptional diamonds, supported by significant investment
aimed at extending their operational lifespans. This underscores our
confidence that the diamond sector remains well-positioned to serve the
markets.
Beyond gold and diamonds, South Africa also holds the world’s largest
known reserves of platinum group metals (PGMs), manganese, and
chrome. These minerals are not only vital to our domestic economy but
also integral to the global transition towards cleaner and more sustainable
technologies.
A key priority for us is rebalancing global mineral value chains in a way
that benefits all nations – particularly producer countries. Central to this is
our commitment to driving value addition closer to the point of
production.
The reality confronting many resource-rich nations is that much of what
we mine is exported in raw form. Consequently, the greater share of value
is captured elsewhere in the global value chain. This must change.
In this co Read more