Skip to main content
Invest Now
012 012 5270
Copyright © Aluma Capital (Pty) Ltd. All rights reserved.
Aluma Capital (Pty) Ltd is a registered Financial Services Provider (FSP 46449) in terms of The Financial Advisory and Intermediary Services Act (37 of 2002)
Frederick Mitchell, Chief Economist | Aluma Capital (Pty) Ltd
Frederick Mitchell
October 15, 2025

Mining Production and Sales

August 2025

In August 2025, mining activity in South Africa declined by 0.2% year-on-year, following a 5.1% increase in July.

This decrease was mainly driven by:

  • A 3.0% drop in platinum production, which contributed -0.9 percentage points to the overall contraction for the month.
  • A 3.6% decline in gold production, subtracting another 0.4 percentage points.
  • A 3.4% contraction in manganese mining, accounting for an additional 0.3 percentage points.

For the rolling quarter ending August 2025, seasonally adjusted mining production increased by 3.3% compared to the previous three months. The quarterly growth was primarily driven by:

  • Platinum mining, which expanded by 9.1%, contributing 2.6 percentage points.
  • Coal production, which grew by 3.6%, adding another 0.8 percentage points.

Nominal mining sales increased by 23.3% in August. This positive trend was supported by several subsectors, notably:

  • Platinum sales, which surged by 44.1%, contributing 9.5 percentage points to total mining sales growth.
  • Gold sales, which increased significantly by 471.5%, adding 17.9 percentage points.

However, some segments negatively impacted mining sales:

  • Iron ore sales, which contracted by 14.0%, subtracting 2.1 percentage points.
  • Manganese ore, which declined by 24.7%, also reducing sales by 2.3 percentage points.

The mining sector remains essential to South Africa’s economy, providing foreign exchange earnings and employment for approximately 434,000 people, according to StatsSA labour statistics for the second quarter of 2025. The sector grew by 3.7% from the first to the second quarter of 2025, based on recent GDP data. This quarterly growth is encouraging, given the sector’s continued importance for employment and foreign exchange.

Employment within the sector has marginally increased compared to the previous quarter, highlighting its ongoing significance. Nevertheless, several challenges remain, including concerns over exports to the US following new tariff measures introduced on 7 August, proposed export tariffs on manganese, and import tariffs on steel exports to the Eurozone. The sector also faces difficulties related to the loss of AGOA benefits in September and ongoing issues surrounding the new Mining Charter.

On the international front, geopolitical tensions between the US and China—marked by trade conflicts and tariff disputes—continue to disrupt global markets and restrict trade flows. Nonetheless, some positive developments have occurred, such as the temporary exemption of certain mining materials used in steelmaking from high US tariffs. This offers some relief for the sector, which is crucial to South Africa’s economy in terms of employment, foreign exchange earnings, and overall growth.

Back to News

More Coverage

South Africa is trapped in severe economic stagnation, facing a projected 1.0% growth rate for 2026, 33.6% unemployment, and sharp contractions in mining (-12.7%) and manufacturing (-4.3%). Exposed to global fuel shocks via depleted reserves and >R12.00/litre pump levies, the nation is also caught in a fiscal spiral where national debt nears 80% of GDP and interest payments exceed R1 billion daily. Escaping this trap requires four urgent structural reforms: halting interest rate hikes for supply-side inflation, replacing rigid B-BBEE quotas with job-creation incentives, scrapping Expropriation Without Compensation (EWC), and deregulating Transnet’s logistics corridors.

Mining Production and Sales for August 2026

South Africa’s mining sector remains a vital source of jobs, foreign exchange and economic growth, but August’s sharp fall in mining output and sales highlights the mounting pressure on the industry. Rising fuel and energy costs, policy uncertainty and growing trade challenges are weighing on producers, even as firm gold prices and temporary US tariff exemptions offer some relief. Read the full report for a closer look at the latest figures, the forces shaping the sector and what they could mean for mining’s future in South Africa.

MACROECONOMIC & INVESTMENT INSIGHTS | OCTOBER 2026

A $100-plus oil price, a weaker rand and record fuel hikes are putting South Africa’s economy under mounting pressure, while strategic reserves offer little protection. This report examines how imported inflation is squeezing households and businesses, why higher interest rates may do little to tackle its root causes, and how sluggish growth and rising debt are tightening the fiscal squeeze. It also explores the stakes for trade with the United States and AGOA, and the policy choices that could restore investor confidence, unlock growth and put the country on a more resilient path.

International Trade and Trade Balance – August 2026

South Africa recorded a trade surplus of R20.4 billion in August 2026, as exports continued to outpace imports. Export growth has exceeded import growth over the first eight months of the year, reflecting subdued domestic demand among businesses and consumers. But with higher fuel prices and tighter monetary policy expected to weigh on spending, demand is likely to recover only gradually. Read the full report for a closer look at the trade figures and what they could mean for South Africa’s economy in the months ahead.

Private Sector Credit Extension (PSCE): August 2026

South Africa’s credit market is showing surprising resilience, with credit demand rising by 7.5% in August 2026 despite renewed interest-rate pressure, elevated inflation and mounting household costs. While mortgage advances continued to grow, the fragile recovery in the property market highlights the strain caused by subdued investment, high debt levels and rising municipal and energy expenses. At the same time, sluggish instalment credit growth and continued reliance on short-term borrowing reveal how consumers are navigating increasingly difficult financial conditions. With higher oil prices, geopolitical risks and further SARB tightening adding to the pressure, this report examines what the latest credit trends reveal about household finances, business confidence and the broader South African economy.