South Africa's mining investment challenges - PwC Global Mine Report 2026

SOUTH Africa's approach to attracting the investment required to mine strategic minerals necessary for the energy transition appears more diagnostic in nature, and well-meaning plans are not being implemented effectively, said PwC Africa energy, utilities and resources leader Andries Rossouw.

- EDWARD WEST

He spoke yesterday in a presentation at the release of PwC's Global Mine Report 2026, which assessed industry trends among the top 40 global mining companies. The report shows that new mining investment in critical minerals such as copper and lithium is essential, and currently far from enough, given their requirements for the global energy transition and growth of data centres.

He said mining attracts relatively low investment globally. For instance, mining development capital stood at about $55 billion in 2025, a fraction of the $3.3 trillion invested in global energy systems annually. The global mining sector is also under mounting pressure from energy security concerns, fragmented geopolitics, and growing societal expectations. Often, many large mining groups are able to fund their own new developments, but in South Africa currently, other funders are often needed on new mine development projects.

The future success of the sector will depend on extending beyond traditional geological advantages and addressing policy, capital, and productivity challenges, he said.