South Africa may pivot to new markets for its critical minerals if the US follows through on plans to impose steep tariffs, according to Mines Minister Gwede Mantashe. South Africa is the world’s top producer of platinum group metals (PGMs). These metals are among the critical minerals under review in a US probe that could lead to new levies targeted at China in a bid to counter Beijing’s dominance in mineral production. South Africa relies heavily on its mineral trade, with PGMs alone accounting for 76% of its $3.64 billion in mineral exports to the US last year. While PGMs are currently exempt from the looming US tariffs, Mantashe insists that trade must be mutually beneficial and warned against being “bullied” over resources.
CNBC
