South African billionaire Rob Hersov has warned that the country risks missing out on a global critical minerals boom, arguing that regulatory inefficiencies and slow reforms are undermining one of Africa’s most resource-rich mining industries.
"We are at a critical juncture. The world is presenting us with an unprecedented opportunity to be a leader in the green energy transition, to supply the minerals that will build a sustainable future, and to create wealth and jobs for our people in the process.
"Yet we are choosing to sit on the sidelines, crippled by an ideological hostility to an industry that is our only viable path to prosperity," he said in an open letter to Minerals Minister Gwede Mantashe.
Hersov’s comments come as governments and investors worldwide race to secure supplies of minerals needed for electric vehicles, renewable energy infrastructure and advanced manufacturing, turning critical minerals into one of the most sought-after commodities in the global economy.
The billionaire investor said South Africa should be better positioned to benefit from the surge in demand, given its vast reserves of platinum group metals, manganese, chrome and vanadium, as well as its long-established mining industry.
