The Minerals Council South Africa has thrown its full weight behind the launch of the third phase of the government-business partnership, a programme President Cyril Ramaphosa says will lift economic growth to 3% and create one million jobs by 2030.

The initiative, unveiled on Friday, positions mining as one of four "growth drivers" alongside tourism, infrastructure, and agriculture.

The sector has been singled out as a primary engine for economic recovery, with the partnership targeting the unlocking of R50-billion in capital tied up in delayed projects.

"Phase three must be defined by disciplined execution," Ramaphosa said at the launch. "Every workstream must have clear objectives, measurable targets, firm timelines and accountable leaders.

Progress must be monitored regularly and reported transparently. Where implementation falls behind, we must intervene rapidly."

The mining industry's inclusion reflects its outsized role in South Africa's economy. The sector accounts for roughly 7% of GDP and supports hundreds of thousands of direct and indirect jobs.

"Our President has just launched the Government-Business Partnership phase three, which will be focused on inclusive economic growth, jobs, and confidence," Minerals Council South Africa president Paul Dunne said in a video statement. "Mining will take its rightful place on the programme.

As you all know, we're a very strong economic force, a primary industry with a strong economic multiplier and an excellent capacity to create real jobs."

Minerals Council CEO Mzila Mthenjane, who also serves as the mining workstream's Focal Area Lead, estimated the sector could generate up to 50,000 new jobs by 2030 under the partnership's framework.

"What is really exciting about this is the confidence that it's showing in the success that has been achieved so far with electricity as well as logistics reform," Mthenjane said. "Of course, in this day and age of demand for the minerals, not only for technology but also for infrastructure within South Africa, in Southern Africa, this bodes very well for mining going forward over the next 20 to 30 years."

The partnership, now in its third iteration, has already delivered measurable wins. Loadshedding has ended after 335 days of power cuts in 2023, Eskom posted its first profit in eight years, and Durban was named the world's most improved port. South Africa also exited the Financial Action Task Force grey list and recorded its first primary budget surpluses in 15 years.

For mining executives, the next hurdle is administrative. The industry has long complained about delays in licensing and regulatory approvals, with the mining cadastre—a system meant to track and manage mineral rights—still not fully functional.

Minerals Council vice-president Dr Richard Stewart, who serves as CEO Sponsor for the mining workstream, said unlocking onshore capital is a priority.

"The R50-billion in capital being unlocked ... that's really referring to capital within the country that's been planned and committed towards new potential projects that are getting delayed for various reasons, including administrative constraints and complex regulatory environments," Stewart explained. "The competitiveness part to it to me is also a really important part, because that looks at how, as a country, we're selling ourselves as a competitive mining destination."

The Department of Mineral and Petroleum Resources has acknowledged "unacceptable" waiting times for mining licences, and a draft General (Mining) Laws Amendment Bill was published in August 2026. Industry observers view these as signs that government is moving to address long-standing regulatory friction under the Mineral and Petroleum Resources Development Act.

"At a time of rising global demand for critical minerals, the moment is definitely now," said Shamini Harrington, senior executive at the Minerals Council. "Working in partnership with the DMPR and government, we have a huge opportunity to remove practical barriers, restore investor confidence, and convert mineral wealth into economic growth that benefits all South Africans. Together, we can turn potential into progress."

Phase three is organised around three pillars: economic enablers like energy and transport, growth drivers including mining, and confidence multipliers such as combating crime and corruption. Youth employment has been designated a standalone workstream and a cross-cutting outcome across every focal area.

Detailed delivery plans and metrics for each sector will be announced in the fourth quarter of 2026, with progress reviewed at quarterly meetings with the President.

"Growth is essential for large-scale job creation," said Adrian Gore, chairperson of Business Leadership South Africa and co-convenor of the partnership. "We need to move beyond business as usual and lift growth above 3% if we are to start to create net jobs. Business is fully committed to contributing leadership, expertise, implementation capacity and investment support alongside government."

South Africa's unemployment rate stands at roughly 32%, with 8.5 million people out of work and 300,000 new job-seekers entering the labour market annually. At below 3% growth, the economy cannot absorb new entrants.

"We believe South Africa has a significant opportunity to build a self-reinforcing cycle of an improved narrative, investment, growth, jobs and increased confidence," Gore added. "The inclusion of many additional CEOs to lead our work bears testimony to our approach."