GRACELIN BASKARAN: Long-term perspective needed to turn mining boom into sustainable growth
Windfalls have not always stimulated the structural reforms required to boost the economy
05 October 2021 - 16:40
SA is experiencing a mining boom, but translating this into sustainable growth requires intentionality and a long-term development perspective.
The boom has been strong. In 2020, though there was a 15.5% reduction in platinum group metal (PGM) production, the value of PGM sales rose 40% due to a surge in commodity prices, a trend that continued into 2021. From January 2020 to May 2021 rhodium prices rose 323% and palladium prices 44.5%. It is no surprise that rhodium accounted for 53% of total PGM exports during the second quarter of 2021. Production and sales have now exceeded prepandemic levels...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.