The aim of this article is to analyze the role of industrial policy in promoting technological modernization and economic upgrading in two mining countries, i.e. Brazil and South Africa. It analyzes the mining complex of these countries, in which they have achieved certain advantages in international markets. The main results show the significant difficulties that industrial policy faces in creating mechanisms to overcome economic and technological lags. Transition towards a higher added value and more sophisticated and diversified economic activity forms the basis of a sustainable and healthy economy, allowing companies and industries to fully implement their potential, involves investment in a wide range of production facilities and institutional structures.