South Africa is working to attract more investment in its mining sector through a new initiative called Phase 3 of the Government-Business Partnership, launched by President Cyril Ramaphosa. This initiative aims to boost the economy, create jobs, and grow the country's GDP by more than 3% by 2030, with a goal of adding one million jobs. Mining is a key focus of this plan, with a target of R50 billion (about $3 billion) in investments by February 2028. The government is also introducing a digital system to make it easier for companies to apply for mining rights, which should help reduce delays in starting new projects. Currently, mining contributes around 6% to South Africa's GDP and provides about 470,000 direct jobs. However, the country faces high unemployment, with 8.5 million people out of work and many new job seekers entering the market each year. South Africa has significant mineral resources, including 80% of the world's platinum group metals and is the largest producer of chrome and manganese. The government aims to unlock even more resources, particularly in iron ore, which could attract more investors. To support these efforts, the African Mining Week (AMW) 2026 conference will take place in Cape Town from October 14-16, bringing together global investors, mining companies, and government officials to discuss investment opportunities and regulatory improvements in the mining sector.
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