South Africa's mining output has fallen further below pre-pandemic levels due to persistent electricity outages and rail disruptions, industry data shows, threatening dividend payouts to investors.
South Africa is the world's biggest producer of platinum and chrome and a leading producer of gold and diamonds. But the industry has been shrinking for years as ore grades decline and output was disrupted in 2020 when COVID-19 lockdowns impacted operations.
Now severe power cuts since the end of 2022 are affecting output, while state-owned freight rail firm Transnet isAs a result, mine output and sales for the 12 months to May 2023 were down 4.6% and 4.2%, respectively, compared to the same period a year earlier, new data from the Minerals Council of South Africa figures showed.
Output in May was down 7.8% from pre-pandemic levels, the council's chief economist Henk Langenhoven said. "It's been very hard to get back to 2019 production levels. We're really struggling," Langenhoven said. "Although we sort of recovered at the beginning of 2021, we've faltered since then." South Africa produces 70-75% of mined platinum supply, for example, and lower production in the country has helped spur a surge in
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