South African Mining Hit By Power Outages And Transport Disruptions
South Africa, the world’s largest producer of platinum and chrome, has reported significant reductions in its mining output. Recent data revealed a 4.6% and 4.2% drop in mining output and sales for the 12 months ending May 2023, compared to the same period in the previous year. Notably, the mining output in May was 7.8% below pre-pandemic figures. This decline is attributed to prolonged electricity shortages since late 2022 and disruptions in rail services. Transnet, the state-owned freight rail firm, has been grappling with vandalism and cable theft. Given South Africa’s contribution of 70-75% of the global mined platinum supply, the decreased output has prompted a rise in global prices.
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