UPHILL BATTLE

20th June 2014 By: Darlene Creamer

UPHILL BATTLE

Every time Statistics South Africa has reported this year, the news has been worse for South Africa’s mining industry, which is in danger of being pushed backwards to a point of slow return or, in parts, no return. The country has fallen behind lowly Peru in gold production. It could see its position in platinum usurped by Zimbabwe if it does not watch out. China has taken from it the number one ferrochrome spot, and the share of the once flourishing individual operations, like Kumba Iron Ore, for example, is being impacted on by the low dollar price of iron-ore, the weak rand notwithstanding. Falling commodity prices, rising costs and strikes are taking their toll.