South Africa is known for its abundance of mineral resources. It is estimated to have the world’s fifth-largest mining sector in terms of gross domestic product value and its mining companies are key players in the global industry. South Africa holds the world’s largest reported reserves of gold, platinum group metals, chrome ore and manganese ore, and the second-largest reserves of zirconium, vanadium and titanium.
The Department of Mineral Resources is tasked with promoting and regulating the country’s minerals and mining for transformation, growth and development. Its ultimate goal is to ensure that all South Africans derive sustainable benefit from the country’s mineral wealth.
Nearly 100% of South Africa’s cement and building aggregates are made locally and 80% of the country’s steel is manufactured locally from locally mined iron ore, chrome, manganese and coking coal; using furnaces that are 95% powered by electricity from coal-fired power stations (the 20% imported steel is speciality steel products.)