Advancing Critical Minerals in RSA through Policy Reforms and Investment Readiness
2026
Context and Opportunity
The Republic of South Africa (RSA) is well placed to benefit as global demand for critical minerals (CM) roughly doubles by 2040, driven by the shift to cleaner energy. As countries diversify mineral sourcing, established producers stand to gain, and RSA is one of the few countries that already meets the minimum viable scale to process several of these minerals domestically.
Moving from raw mineral exports into local processing is key to capturing maximum value, but several barriers slow progress. Today, most of RSA’s minerals are exported in raw form. As a result, the country captures only a small share of the value created across the chain. Investment in refining and processing is held back by regulatory and market barriers, and there is a shortage of well-structured, investment-ready projects.
Growth Gateway supported RSA’s move into local mineral processing by tackling investment barriers, building a project pipeline, and connecting investors. The intervention partnered with government and industry to tackle investment barriers and develop a pipeline of investment-ready projects. These projects were then connected to investors, off-takers and financiers to mobilise capital.
Key highlights
Global Demand
£344B+
Expected increase in global demand for CM by 2040
Mineral Production
5+
Key CM that meet MVS1
for processing
Mineral Exports
~£12B
Estimated annual export value of RSA CM exports
Support Provided
Formulated Policy Reforms to Advance RSA’s Midstream Opportunity
Co-developed targeted reform recommendations with government to address priority barriers
- Incorporated insights from stakeholder engagements to develop and prioritise policies
- Drafted policy charters addressing barriers to guide implementation and secured buy-in from relevant government stakeholders
- Prioritised barriers by socio-economic impact to inform policy reform recommendations
Impact Achieved
£6.3B
Annual processing opportunity unlocked with reforms by 2040
Developed a Pipeline of 42 High-potential Projects
Identified investable opportunities through 1:1 interviews with 20+ developers and stakeholders
- Sized £1.5B+ investment required for projects
- Identified 20 market access barriers across 8 key sector enablers, including infrastructure, finance, regulation, etc.
42
High-potential projects identified
26 Projects engaged in auxiliary services
16 Midstream processing projects
Convened Investors and Developers through Flagship Roundtables
Brought investors and project developers together to advance engagement on RSA’s Critical Minerals opportunity
- Shared sector insights and the country-level business case to build investor confidence and align expectations
- Enabled direct dialogue between project developers and targeted investors to support deal flow and facilitate investment
40+
Attendees at an investor roundtable
2 Flagship industry engagements
25+ DFIs, banks and corporates engaged
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