South Africa is looking for investors as it works out its problems in dealing with the high cost of extraction to exploit its Steenkampskraal mine known for deposits of rare earth elements and described as located “in the middle of nowhere.”
Meanwhile, Minister of Industry & Commerce Victor (Ito) Bisono met with South African Minister of Mines Gwede Mantashe to learn about the South African experience and find ways to collaborate.
The Dominican government has created a trust for the exploitation of rare earth elements in Pedernales on the southwestern border with Haiti. The exploitation of the rare earth elements is controversial because at the same time Pedernales is being developed as a major tourism destination. Extraction of rare earth elements is costly and toxic to the atmosphere.
In 2024, South Africa’s exports of rare earth compounds (including scandium and yttrium) were primarily directed towards the United States, with smaller quantities going to Australia, Zimbabwe, and Malaysia. The total export value of rare earth compounds was US$528.79 million for 6,979 kg, according to the World Bank.
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Ministry of Industry and Commerce
Daily Maverick
Steenkampskraal mine in South Africa
World Bank
28 July 2025