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A Strategic Review of South Africa's Platinum Group Metals Mining Industry
Frost & Sullivan, June 2009, Pages: 144
This research study was carried out on South Africa's Platinum Group Metals Mining Industry with an objective of understanding production trends, resource price trends and safety concerns. The research service also included forecasts on South Africa's platinum group metals production trends between 2008 and 2014. The research study also identified key market drivers, market restraints and industry challenges facing South Africa's platinum group metals mining industry.
Research Overview
This Frost & Sullivan research service titled A Strategic Review of South Africa’s Platinum Group Metals Mining Industry provides insights into the platinum mining industry in South Africa. In this research, Frost & Sullivan's expert analysts thoroughly examine the current trends in the market and how companies can take advantage of opportunities that will arise within this industry.
This analysis is available through our Industrial Automation & Process Control Growth Partnership Services programme. With continuous access to intelligence and resources from all seven perspectives of the Complex Business Universe, the Growth Partnership Services programme ensures that you and your Growth Team™ are able to maintain a 360 Degree Perspective of the market. This comprehensive, objective information allows your company to mitigate risk, identify new opportunities, and drive effective strategies for growth. For more information on this custom subscription service, please click here.
Market Overview
Small and Medium-sized Companies to Contribute Significantly to Platinum Production
With rising demand for platinum in a range of industrial applications globally and with over 1 billion ounces in platinum reserves, South Africa’s platinum mining industry has probably the strongest outlook than any other mineral group in the entire mining industry. Accordingly, notwithstanding the sharp decline in platinum prices since September 2008, the investment case for South Africa’s platinum group metals mineral mining industry remains strong.
“South Africa’s platinum group metals mining industry remains beholden to developments in the global automotive industry,” notes the analyst of this research. “However, the dramatic decline in new vehicle sales globally has dampened the demand for platinum in the automotive sector which is its largest demand sector”. Small and medium-sized platinum mining companies are expected to contribute significantly to South Africa’s platinum production output. They will achieve this by entering into strategic alliances with major companies to exploit the resources in their ownership.
Companies Need To Be Prepared to Respond Quickly to Upturn in Global Economy
One of the most significant challenges facing South Africa’s platinum mining companies is to contribute and complement government efforts in ensuring sustainable development to communities that are affected by mining activities. “Platinum mining companies in South Africa are facing the need to balance production and cost control targets with managing sophisticated relationships involving environment, safety, community and stakeholder involvement,” explains the analyst.
Despite the limited upside potential for platinum prices in the short to medium terms, South Africa’s platinum mining industry is poised to enjoy phenomenal growth once the effects of the global economic slow down start lifting. “South Africa’s platinum mining companies need to position themselves through the downturn and be able to respond swiftly to changes in the global economy,” advises the analyst. “Although the immediate concern for most executives is securing the future of their companies amid the debilitating effects of the slowing global economy, it is also important that platinum mining companies are able to respond swiftly to an upturn in the global economy.”
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