President Cyril Ramaphosa has heralded the commencement of production at the Ivanplats Platreef Mine as “an important moment for the company, for the mining industry and for the country”.
The President delivered remarks at the event at the mine on Tuesday.
The mine is considered one of the world’s largest undeveloped precious metals mines – with deposits of Platinum Group Metals, which hold properties essential for technologies driving the global green energy transition.
“The inauguration of the Platreef concentrator plant at Mogalakwena is taking place as South Africa is positioning itself as a strategic partner in the global energy transition and the next wave of green industrialisation.
“Platinum Group Metals are strategic enablers in the critical minerals transition, so we see the Platreef mine as being integral to the success of our new Critical Minerals Strategy,” the President said.
The mine has allocated some 20% of its B-BBEE [Broad-Based Black Economic Empowerment] shareholding structure to a community trust to benefit at least 20 local communities with a further trust in the structure that holds a “3% interest for the benefit of non-managerial employees at Platreef”.
“Broad-Based Black Economic Empowerment continues to play a pivotal role in the transformation of the highly racialised economy we inherited from apartheid. These laws are no less significant now than they were when they were first passed.
“We have seen great progress in promoting worker ownership of the companies in which they work. Worker ownership schemes in the mining sector are to be welcomed, particularly with its troubled history in South Africa and on the continent.
“I congratulate Ivanplats and other miners that are prioritising worker shareholder schemes. This is an important contribution to the ongoing transformation of the mining industry,” President Ramaphosa affirmed.
Furthermore, some 85% of the workforce is drawn from the local communities with a “concerted effort to prioritise local procurement and enterprise development”.
“We, therefore, call on the community to safeguard this production facility that is today a source of employment and development. To Ivanplats we say, hire from this community, procure goods and services from this community, and leave a sustainable legacy for this community.
“With the Platreef mine now officially having commenced production, the imperative of sustainable, ethical and patriotic corporate citizenship becomes all the greater.
“We want mining companies to take this approach not merely for purposes of compliance, but out of a firm commitment to the communities in which the operate,” President Ramaphosa said.
Industry on the rise
The President highlighted that despite turbulent times globally, the mining industry – a key building block of the South African economy – continues to show its strength.
“Even amidst strong headwinds, figures released in September by Statistics South Africa point to 1.2 percent growth in total mining production on a year-on-year basis.
“As the Minerals Council has noted, there has been a notable uptick in total mineral sales for 2025, reaching R614 billion between January and September. This is better than the same periods in 2023 and 2024.
“The opening of mines like Platreef gives us confidence that the mining industry will continue to grow,” he said.
The President noted that the mine’s opening comes as the country readies itself for the first G20 Leaders’ Summit to be held on African soil.
“In the week that we prepare to host the first G20 Leaders’ Summit on African soil, the opening of this mine stands as a proud testament to South Africa’s steady economic recovery.
“Your journey to this opening is an example of sustainability in action. Well done to everyone involved in achieving this great milestone. It gives us a glimpse of the bright future of South Africa’s mining industry,” President Ramaphosa concluded. – SAnews.gov.za
