‘If they don’t give us money, let’s not give them minerals’: Mantashe hits back at Trump funding cut

Minister of Mineral and Petroleum Resources Gwede Mantashe wants Africa to form a united front against the exploitation of the continent’s minerals.

Mantashe was speaking at the opening of the 2025 Mining Indaba, which will run from 3 to 6 February in Cape Town.

The minister’s comments come in the wake of United States President Donald Trump calling for a halt in funding to South Africa due to the recent signing of the Expropriation Act.

Withholding minerals from the USA

Since taking office on 20 January, Trump has been on the offensive. This weekend, the White House announced import tariffs on Mexico, Canada, and China.

Late last night, Trump then said he would also be cutting funding to South Africa over his belief that land was being confiscated from “certain” citizens.

ALSO READ: ‘We will expropriate land and Trump’s threats won’t stop us’- Malema

President Cyril Ramaphosa was quick to respond, while Mantashe used the Mining Indaba to suggest a possible retaliation.

“Lets mobilise Africa, lets withhold minerals to US…If they don’t give us money, let’s not give them minerals. The reality is they take our minerals but say they are withdrawing funding,” said Mantashe.

“We have minerals in the continent, and therefore, we have something that we have. We are not just beggars. We must just use that endowment to the benefit of our continent,” he added.

United African mining industry

Mantashe said South Africa’s mining sector was in a strong position as the country had various minerals in demand internationally.

He said that while gold mining was in decline, coal, chromium, manganese, platinum, copper, and others were thriving.

“We are leading in a number of minerals that are required for today and the future,” Mantashe stated.

ALSO READ: Trump to cut off ‘all future funding’ to SA amid investigation into land expropriation

He called for a united African mining industry that could compete with other continents while protecting its own interests.

“[The EU] have discovered the power of belonging together. We have not discovered that power — we move in different directions, take different positions, and become vulnerable as a continent,” the minister said.

Investment means upliftment

The mining indaba is pitched to lure foreign investment to the sector, and Mantashe asked investors to be honest about their intentions.

“Don’t tell me you want to create jobs. You want to make money, and in the process of making money, you will employ people.

“Because if you create jobs, make no money, and get liquidated as a company, what happens?” Mantashe asked.

The minister said solid investments meant coexisting with communities and meeting social development commitments, but these were all applicable after the initial mineral discovery process.  

“I want to remind you that we are having a policy of Black Economic Empowerment (BEE) in South Africa. It is a necessary intervention, but we don’t do it for exploration.

“Because exploration adds no value. You are still looking for the quantity and quality of the mineral. We will have the BEE kick in at the point of production,” Mantashe explained.

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