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South Africa Mining Report Q1 2013 - Product Image

South Africa Mining Report Q1 2013

  • Published: November 2012
  • Region: Africa, South Africa
  • 77 pages
  • Business Monitor International

FEATURED COMPANIES

  • Anglo American
  • AngloGold Ashanti
  • Company Profiles
  • Impala Platinum
  • MORE

The past decade of stagnation and decline in South Africa's mining sector is set to end as several projects across South Africa's vast mineral wealth come online in the next five years. We expect South Africa's mining sector value will reach US$36.9bn by 2017, from US$33.2bn in 2011. South Africa's mining sector is amenable to investment in the sector with few obstacles confronting foreign investment. The government is generally stable and its business environment is one of the best on the continent.

Stagnation To End, But Global Share To Decline

While South Africa's mining output growth is set to pick up over the coming years, we expect the country's share of global output to continue to decline as other major mining countries see faster rates of growth, most notably China and Australia. In addition, we expect investment, particularly in gold, to be increasingly attracted to low-cost, high resource opportunities in the rest of the continent such as the DR Congo and Ghana. This scenario is likely to be replicated in the diamond and iron ore sectors as growth elsewhere, mainly Zimbabwe and West Africa, respectively, makes South Africa less attractive for opportunities.

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Executive Summary 5

SWOT Analysis 7

South Africa Mining Sector SWOT 7

South Africa Business Environment SWOT 8

Global Mining Outlook 9

The Global Mining Outlook For 2013 9
Table: Recent Tax Increases 9

Africa Mining Outlook 16

Africa: Mining Sector Outlook 16
Table: Recent Government Intervention 17

Market Overview 21

South Africa – Q1 2013 21
Table: South Africa – Main Expansion Plans 23
Table: South Africa – Mining Industry Value & Production 23

Industry Forecasts 24

Coal: Turnaround On The Horizon 24
Table: South Africa – Major Expansion Projects 25
Table: South Africa – Coal Production (mnt, unless stated otherwise) 26

Diamonds: Sector To Slowly Return To Former Levels 27
Table: South Africa – Largest Diamond Projects 28
Table: South Africa – Diamond Production (mn carats, unless stated otherwise) 28

Gold: Harmony Gold To Reverse Output Decline 29
Table: South Africa – Major Expansion Projects 30
Table: South Africa – Gold Production (mn ounces, unless stated otherwise) 31

Iron Ore: One Bright Spot For South Africa 32
Table: South Africa – Major Iron Ore Projects 33
Table: South Africa – Iron Ore Production (mnt, unless stated otherwise) 34

Platinum: Uncertain Outlook To Weigh On Growth 35
Table: South Africa – Largest Platinum Expansion Plans 36
Table: South Africa – Platinum Production (moz, unless stated otherwise) 37

Palladium: Anglo American To Drive Steady Output Growth 38
Table: South Africa – Largest Development Projects 39
Table: South Africa – Palladium Production (mn ounces, unless stated otherwise) 39

Regulatory Development 40

South Africa Q1 2013 40

Africa Business Environment Ratings 42

Africa Q1 2013 42
Table: African Government Intervention 42
Table: Africa – Mining Risk/Rewards Ratings 43

Competitive Landscape 48

South Africa Q1 2013 48
Table: Select Companies – Financial Data 49

Company Profiles 50

Anglo American 50
Table: Anglo American's Key Financial Data 53

Impala Platinum 54
Table: Impala Platinum's Key Financial Data 57

AngloGold Ashanti 58
Table: AngloGold Ashanti's Key Financial Data 60

Commodity Strategy 61

Monthly Metals Update 61

Iron Ore: No Return To Highs 62

Aluminium: Further Gains Ahead 65

Nickel: Gains To Disappear 69

Tin: Major Gains Behind, But Outperformance To Continue 71

Zinc: Little Room For Optimism 72
Table: Select Commodities – Performance & BMI Forecasts 73

Business Environment Ratings Methodology 74
Table: Mining Business Environment Indicators 75
Table: Weighting Of Components 76

Company Profiles
Anglo American
Impala Platinum
AngloGold Ashanti

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