Johannesburg – South Africa’s mining sector is one of the country’s main economic engines.
Precious and semi-precious stones alone made up about 17.7% of exports in 2023, and the country holds roughly 70% of the world’s platinum resources, alongside major deposits of chrome, manganese, and iron ore.
As global demand for critical metals surges, with platinum and copper requirements projected to multiply several-fold by 2050, South Africa’s ability to extract and beneficiate these resources will shape both its own growth and the energy transition worldwide.
Industry is the backbone of South Africa’s electricity demand, consuming around 53% of all power used in the country (IEA).
Yet the system supplying that electricity is under severe strain.
Total electricity production reached 229 309 GWh in 2023, which was only a 9% increase since 2000, despite rising demand and the expansion of energy-intensive sectors such as mining, smelting, and minerals processing.
At the same time, the availability of Eskom’s generation fleet has steadily declined, contributing to years of load -shedding and unpredictable supply.
However, this week, Eskom said the success of its Generation Recovery Plan, supported by intensified planned maintenance implemented last year, has strengthened fleet reliability and enhanced operational resilience.
Eskom has not implemented load-shedding since 26 March 2024.
The improved performance places the system in a strong position to meet peak seasonal demand, support economic activity, and reinforce national energy security.
For mining companies and for smelters, any mismatch between demand and reliable supply can become a structural barrier to growth.
Add to this severe water stress, with demand expected to exceed supply by about 17% by 2030, and it becomes clear that conventional ways of powering deep-level mines and energy-hungry industries are under pressure.
The draft Integrated Resource Plan 2025 outlines how South Africa intends to close the gap between rising demand and unreliable energy supply.
It proposes more than 105 gigawatts of new capacity by 2039, including 5.2 gigawatts of additional nuclear power, potentially rising to 10 gigawatts.
Nuclear is explicitly framed as a strategic pillar of energy security and industrialisation, alongside large volumes of wind, solar, storage, and gas-to-power.
That transition builds on an established base of nuclear competence.
The Koeberg Nuclear Power Station has supplied dependable base-load electricity for decades, while institutions such as the National Nuclear Regulator and the South African Nuclear Energy Corporation (Necsa) maintain a mature framework for safety, research, and skills development.
At Enlit Africa 2025, experts noted that this foundation positions the country well to evaluate emerging technologies, including small modular reactors (SMRs) and floating variants as options for replacing ageing coal units and supporting applications such as hydrogen production, desalination, and industrial heat.
Floating power units (FPUs) represent one of the most distinctive formats within the new generation of modular nuclear technologies.
In practical terms, they are small nuclear power plants mounted on specialised barges or vessels, delivering roughly 100 megawatts of electrical output depending on configuration.
Units are manufactured in shipyards, towed to a coastal site, and connected either to the national grid or directly to industrial loads.
Major maintenance, refuelling, and long-term waste handling occur off-site at centralised facilities, which reduces the land footprint and minimises the need for complex civil works onshore.
For a mining country, this format offers several advantages.
Power can be brought to the coast nearest the resource, rather than extending long transmission lines into remote regions.
The barge itself hosts the nuclear island, limiting the need for large onshore exclusion zones or complex civil works.
When a unit reaches the end of its fuel cycle or operational life, it can be towed away for refuelling, maintenance, or decommissioning, with spent fuel and radioactive waste handled at centralised facilities rather than in situ.
These properties map directly onto the bottlenecks faced by South Africa’s mining and metals value chain.
Many high-value ores are shipped through coastal hubs where beneficiation and smelting could take place, but often do not, because electricity is either too expensive or too unreliable.
South Africa is a net exporter of chrome ore, yet domestic ferrochrome smelters have been mothballed or threatened with closure as high tariffs, energy constraints, and logistics bottlenecks erode competitiveness.
In 2024, Samancor Chrome warned that it might shut down its remaining ferrochrome operations, citing unsustainable power costs and the risk of mass retrenchments.
An FPU stationed at or near such industrial corridors could provide dedicated, stable, and predictable-price electricity for smelters, refineries, and associated infrastructure.
Instead of exporting ore and importing finished metals, South Africa could keep more of the value chain at home: running electric furnaces, electro-refining operations, and even hydrogen-based reduction processes off a secure base-load source.
For investors and operators, the attraction lies in long-term price visibility and reduced exposure to grid disruptions.
Internationally, several countries are already operating or developing modular reactor formats suited to industrial and remote environments.
Russia’s Rosatom runs a floating nuclear power plant in the Arctic, while vendors in France, South Korea, China, and Canada are advancing designs aimed at industrial clusters and regional grids.
Rosatom’s floating plants based on RITM-200 technology are one example of this global trend, offering models ranging from electricity-supply contracts to joint ownership or direct power sales.
These are not the only solutions on the market, but they illustrate how nuclear technologies are evolving to meet specialised industrial needs rather than serving only large national grids.
If South Africa chooses to explore this path, its existing nuclear expertise, maritime infrastructure, and mining heritage give it a head start.
Floating power units will not, by themselves, solve all the structural problems facing South Africa’s mining industry.
Transmission constraints, regulatory reform, community engagement, and environmental safeguards remain critical.
However, anchored off the coast yet plugged into the heart of the metals economy, floating nuclear power could help ensure that the minerals driving the global energy transition are processed and value-added on South African shores.
