South Africa and the European Union have strengthened ties by signing a landmark partnership on critical minerals, signaling a shared commitment to multilateralism ahead of this year’s G20 summit in South Africa. President Cyril Ramaphosa emphasized that the deal will not only focus on extraction but also on processing minerals locally, enabling South Africa to move up the value chain. The EU, facing potential supply restrictions from China, seeks stable access to metals essential for renewable energy, computing, and defense, with plans for stockpiling and joint purchasing. Leaders also stressed the importance of defending democracy, human rights, and multilateral diplomacy, highlighting Africa’s growing economic influence and mineral wealth as the continent hosts its first-ever G20 meeting.
CNBC Africa
