Minerals Council, which represents companies responsible for about 90% of South Africa’s mineral production by value, said it would study the strategy in detail before formally engaging government.
The Minerals Council South Africa has raised alarm over key proposals contained in the Department of Trade, Industry and Competition’s (dtic) newly released Industrial Development Strategy 2026.
South Africa’s Industrial Development Strategy (IDS) 2026, which was published by the dtic on Monday, aims to shift the economy towards higher-value production; and reduce reliance on the export of primary mineral and agricultural products, which are prone to cyclical prices.
The strategy proposes a review of mining legislation on the allocation of mineral rights to enable the government to attach conditions that must facilitate beneficiation, and this must be in line with international mining, trade and investment laws. It argues that this shift is crucial because it will allow beneficiation objectives to be embedded in mining licensing decisions.
However, Minerals Council on Tuesday warned that measures aimed at promoting beneficiation could deter investment in exploration and mining at a time when South Africa is seeking to attract capital and stimulate economic growth.
