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Frederick Mitchell, Chief Economist | Aluma Capital (Pty) Ltd
Frederick Mitchell
May 14, 2026

Mining Production and Sales for March 2026

In March 2026, South Africa’s mining sector showed promising growth, with activity up 2.5%, driven primarily by substantial increases in platinum group metals (PGM) and gold production. This article delves into the remarkable statistics, including a staggering 113.5% surge in platinum sales and a robust 30.2% increase in nominal mining sales, highlighting the industry’s crucial role in generating employment and foreign exchange for the economy. However, amid positive growth trends, the sector faces significant challenges, including geopolitical tensions, tariff measures, and the potential impacts of a changing global market. Discover how these dynamics affect one of the country’s key economic contributors and the overall outlook for the mining industry as South Africa navigates through a complex landscape of opportunities and hurdles. Read on for an in-depth analysis of the mining sector’s performance and its implications for South Africa’s economic future.

In March 2026, South Africa’s mining activity rose 2.5% following the revised 9.7% increase recorded in February 2026. This growth was predominantly driven by:

  • A 10.5% increase in PGM mining production, which contributed 2.6 percentage points to the overall mining output for the month.
  • Manganese production rose by 14.4% during January, while adding 1.1 percentage points towards mining production growth and
  • A 17.1% increase in Gold production, which added an additional 1.6 percentage points to total mining output growth for the month.

For the first quarter of 2026, ending March 2026 compared with the previous quarter, seasonally adjusted mining output increased by 0.6%. This increase was primarily due to:

  • A 8.5% increase in platinum mining, which increased total mining production by 2.3 percentage points and
  • An increase in Gold production, which rose by 8.2% and added 0.7 percentage points for the quarter under review.

In March, nominal mining sales rose 30.2%. This positive trend was notably supported by:

  • A 113.5% surge in platinum sales, which added 21.0 percentage points to overall mining sales growth.
  • Another solid 51.7% rise in gold sales, contributing 8.2 percentage points.
  • Chromium ore sales, which grew by 38.6%, added another 2.9 percentage points.

The mining sector remains vital to South Africa’s economy, generating foreign exchange and employing approximately 476,000 people, an increase of around 32,000 from the previous quarter, according to StatsSA labour statistics for the first quarter of 2026. According to the latest GDP data, however, the sector contracted by 1.3% from the third to the fourth quarter of 2025, with growth of 0.9% projected for the first quarter of 2026. This projected first-quarter growth is encouraging, given the sector’s importance to employment and foreign earnings for the South African economy.

The sector’s continued significance is evident in its ability to create employment and acquire much-needed foreign reserves for the South African economy. However, challenges persist, 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 challenges related to the loss of AGOA benefits in September and ongoing issues with the new Mining Charter.

Internationally, tensions between the US and China are rising, primarily due to trade disputes and tariff wars. These issues are further complicated by the ongoing conflict in the Middle East, particularly between the US, Israel, and Iran, as well as the closure of the Strait of Hormuz. This situation is causing increased fuel and production costs for South Africa’s manufacturing and mining sectors.

These geopolitical challenges and the conflict in the Middle East are disrupting global markets and limiting trade. However, there is some good news: certain mining materials essential to steelmaking remain temporarily exempt from high US tariffs. This exemption offers some relief to the mining sector, which is vital to South Africa’s economy, providing jobs and foreign exchange and supporting overall growth.

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Mining Production and Sales for March 2026

In March 2026, South Africa’s mining sector showed promising growth, with activity up 2.5%, driven primarily by substantial increases in platinum group metals (PGM) and gold production. This article delves into the remarkable statistics, including a staggering 113.5% surge in platinum sales and a robust 30.2% increase in nominal mining sales, highlighting the industry’s crucial role in generating employment and foreign exchange for the economy. However, amid positive growth trends, the sector faces significant challenges, including geopolitical tensions, tariff measures, and the potential impacts of a changing global market. Discover how these dynamics affect one of the country’s key economic contributors and the overall outlook for the mining industry as South Africa navigates through a complex landscape of opportunities and hurdles. Read on for an in-depth analysis of the mining sector’s performance and its implications for South Africa’s economic future.

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