South Africa must spend R7 billion to cash in on minerals which global tech companies need

South Africa is investing a staggering R7 billion to tap into the lucrative market of rare earth elements, a crucial component in the production of lithium-ion batteries and permanent magnets for electric vehicles and clean energy technologies. The Zandkopsdrift Rare Earth Elements Project, set to create 3,500 jobs, will extract neodymium and praseodymium, two essential elements in the global tech industry's quest for sustainable energy solutions. This move is poised to cement South Africa's position as a key player in the global rare earths market.