Minister of Trade, Industry and Competition, Parks Tau, spoke on the sidelines of the ongoing World Economic Forum (WEF) Annual Meeting in Davos about the country’s strategy on critical minerals. South Africais positioning itself at the centre of the global energy and technology transition, leveraging its vast mineral wealth to drive industrialisation, investment and deeper trade partnerships, as the country recalibrates its economic strategy for a decarbonising world. Speaking on the sidelines of the ongoing World Economic Forum (WEF) Annual Meeting in Davos, Minister of Trade, Industry and Competition, Parks Tau, underscored that South Africa’s mineral endowment extends well beyond the legacy resources of the past.
Tau said while coal and abundant sunshine remain central to the current energy mix, the country is increasingly focused on the critical and rare earth minerals that underpin clean energy systems, digital technologies and advanced manufacturing. “So we are sitting pretty much at the crossroads as a country where we are transitioning not only from an energy point of view but also from a technology point of view into what the future looks like and having the benefit of the deposits in our backyard,” Tau said. “So we have taken a view as a country that in fact we need to position our industrial policy and strategy against the backdrop of one, the global context and developments from a trading point of view and an investment point of view, but also from a transition point of view, to say, how do we position South Africa in this context?” Against this backdrop, South Africa has developed a new industrial policy framework, currently in the final stages of government approval, anchored on three core pillars: decarbonisation, diversification and digitisation.
Together, these pillars seek to align domestic industrial development with global shifts in energy systems, supply chains and technology platforms. Decarbonisation focuses on supporting the move towards clean energy solutions, including renewables and green technologies, while ensuring a just transition that protects jobs and communities. Diversification aims to broaden the country’s industrial base beyond traditional sectors, fostering new industries linked to clean energy, electric mobility, advanced manufacturing and downstream mineral processing. Digitisation, meanwhile, recognises that future competitiveness will depend on embedding digital technologies, data and innovation across the economy.
