British High Commissioner Antony Phillipson says Africa has minerals of future economy

The Investing in African Mining Indaba 2024 kicked off in Cape Town with a focus on positive disruption and the pivotal role of critical minerals in shaping the future economy of Africa. British High Commissioner to South Africa, Antony Phillipson, shared insights on the significance of Africa's critical minerals in the global economy during an interview with CNBC Africa's Fifi Peters. Phillipson highlighted the theme of the Mining Indaba, which coincides with the 30th anniversary of the event and South Africa's democracy. He emphasized the crucial role of the mining sector in driving economic growth across Africa and the essential contribution of Africa's critical minerals to the global economy. The UK has been actively involved in strategic planning around critical minerals to establish an open global market and ensure that countries like South Africa benefit from their resources. One key point raised by Phillipson was the importance of creating value across the entire value chain, particularly in African countries where critical minerals are sourced. He emphasized the concept of 'beneficiation' to ensure that the value-added work is conducted within the countries of origin. Phillipson highlighted the role of partnerships between the private and public sectors in driving this agenda forward. Addressing the impact of geopolitical tensions on the mining sector, Phillipson acknowledged the challenges posed by global uncertainties, such as the war in Ukraine and energy transition dynamics. He stressed the need for efficient and guaranteed supply chains in critical mineral markets to navigate geopolitical complexities and ensure economic stability. As South Africa commemorates its 30th democracy milestone and prepares for upcoming elections, Phillipson discussed the sentiments of British companies operating in the country. He underscored the mutual goal of fostering prosperity and security for both South African and British citizens through collaborative efforts between the public and private sectors. In conclusion, Phillipson emphasized the importance of partnership between the UK and South Africa to drive inclusive economic growth, address societal challenges, and contribute to global initiatives such as climate change and global health. The British High Commissioner reiterated the commitment of UK businesses to working hand in hand with the South African government to create a better future for all citizens.