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The South African platinum mining industry has lately been in the spotlight for all the wrong reasons. Despite the significant role and contribution of the platinum sector to the South African economy, the industry is currently in a challenging position due to unprecedented labour disruptions, depressed global demand and a declining platinum price. Increasing production costs (mainly due to wages and electricity costs) are further exacerbating the situation. Platinum mining and related activities are an integral part of the domestic industrial landscape and, as such, the sector should be fully understood to better comprehend the potential impacts of a slowdown in the platinum group metals (PGM) sector on the broader economy. An economic impact analysis (EIA) allows one to assess the platinum industry’s total contribution to the South African economy, as opposed to simply the impact on mining production and exports.
