International data and analytics company GlobalData has reported that African production of platinum group metals (PGMs) was expected to fall by 6.4% this year, in year-on-year terms. This forecast was contained in the company’s ‘Africa Mining Review – 2025’ report. However, output was expected to grow again, at a compound annual growth rate (CAGR) of 1.4%, from this year until 2030, to reach 5.12-million ounces in that year.
“African platinum mining is facing a tough year as operational constraints and adverse weather impact productivity,” pointed out GlobalData Senior Mining Analyst Gayathyri Siripurapu. “South Africa’s platinum sector is resilient but heavily reliant on infrastructure upgrades, energy reliability, and innovation. Additionally, the sector faces illegal mining and crime issues, and limited exploration investment, which constrain long-term growth potential. Although production will decline in the short term, investment in mechanisation and [Economic, Social and Governance] initiatives is expected to stabilise long-term growth in the region.”
The expectation was that African PGM production would total 4.77-million ounces this year, compared with 5.1-million ounces last year. This decline would be due to problems and challenges in South Africa, which produced more than 80% of the world’s PGMs. These issues included power shortages, rising costs, extreme weather, operational inefficiencies and regulatory uncertainty.
However, new projects would boost South African output in the future. In particular, the $1-billion Waterberg Project was forecast to have an annual production of 222 000 oz, from 2029.
Meanwhile, GlobalData noted, Zimbabwe, which held the world’s second-largest PGM reserves, was becoming a growing hub for the supply of platinum. Major producers such as Valterra Platinum (previously Anglo American Platinum) and Impala Platinum were investing in the country. This should expand production capacity in the country. The Mupan Project and the Karo Platinum Project were together forecast to add 616 200 oz in annual production capacity. Further, initiatives to beneficiate PGMs in Zimbabwe were attracting foreign investors. The country’s platinum output was predicted to grow at a CAGR of 2.9%, to reach 616 200 oz in 2030.
“Zimbabwe’s government policies and geological advantage are creating opportunities for growth,” highlighted Siripurapu. “Its ability to attract capital and deliver value-added PGM products could help diversify Africa’s platinum supply chain and ease South Africa’s production risk.”
