SA mining loses R100bn in profit as prices, rail constraints and load shedding bite
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GUEST - Vuyiswa Khutlang, PwC South Africa Energy, Utilities and Resources Partner
South Africa's mining industry has seen a nearly R100 billion slide in profit this year as lower commodity prices and a tough operating environment, marked by load shedding and railing constraints, took their toll.
As reported by PwC in its annual 2023 SA Mine report on Tuesday, an analysis of 29 domestic mining companies showed a net profit plunge to R108 billion in their latest financial years, down from a record R206 billion.
South Africa's mining industry has seen a nearly R100 billion slide in profit this year as lower commodity prices and a tough operating environment, marked by load shedding and railing constraints, took their toll.
As reported by PwC in its annual 2023 SA Mine report on Tuesday, an analysis of 29 domestic mining companies showed a net profit plunge to R108 billion in their latest financial years, down from a record R206 billion.
