SA mining finds resilience amid volatility, eyes green transition - PwC report

THE South African mining industry has entered a new phase of resilience and reinvention, according to PwC's SA Mine 2025 report, which highlights a sector balancing short-term headwinds with long-term transformation.

- SIPHELELE DLUDLA

GOLD was the standout performer, hitting record highs as investors turned to safe-haven assets amid geopolitical tensions and inflation concerns. Despite flat output and deep-level mining challenges, higher prices bolstered miners' financial performance. SUPPLIED

(SUPPLIED)

The report shows that mining's contribution to GDP held steady at around 6%, even as the sector grappled with rising costs, infrastructure bottlenecks, and policy uncertainty. Market capitalisation climbed by 8% to R1.3 trillion, driven largely by strong performances in gold and platinum group metals (PGMs).

Gold was the standout performer, hitting record highs as investors turned to safe-haven assets amid geopolitical tensions and inflation concerns. Despite flat output and deep-level mining challenges, higher prices bolstered miners' financial performance.

PGMs also staged a comeback after a tough start to the year. Platinum prices surged above $1 600/oz, while palladium and rhodium showed renewed strength. Cost cuts and shaft closures tightened global supply, positioning local producers for recovery.