South Africa Gold Mining Market Analysis including Reserves, Production, Production Forecasts, Operating, Developing and Exploration Assets, Key Players and the Fiscal Regime including Taxes and Royalties, 2020-2025
All the vital news, analysis, and commentary curated by our industry experts.
South Africa ranks fourth globally in terms of gold reserves, with 2.7 million tonnes (Mt) in 2020, and accounted for 5.1% of the world’s total as of January 2021. Gold reserves are mostly distributed across the provinces of Gauteng and Mpumalanga. In terms of major producers, Harmony Gold, Sibanye-Stillwater, Gold Fields, and Pan African Resources are the top four gold producers in South Africa, accounting for 83.3% of the country’s total production. Together, these companies produced 2,669.1koz of gold in 2020.
Over the forecast period (2021-2025), the country’s gold production is expected to expand at a CAGR (compound annual growth rate) of more than 3% by 2025. Growth will be mainly supported by over 20 upcoming projects which are under development, of which two are under construction. Platreef Project and Bakubung Project are expected to commence operation by 2022, with a combined metal production capacity of more than 31 koz.
South Africa gold mining market overview
For more insights, download the free sample report
What are the South Africa gold mining market dynamics?
Gold production in South Africa has been experiencing a severe downward trend for many years, primarily due to rising mining costs, union strikes and power disruptions. In mid-2018, the South African Mineral Council stated that over 75% of domestic gold mines were unprofitable, due to the increasing cost of underground mining. This trend continued in 2020, with production also being impacted by the emergence of the Coronavirus (COVID-19) pandemic, as well as rising production costs. This led to an estimated fall of 10.4% in the country’s gold production to 3.2 million ounces (Moz) in 2020, against 2019.
Gold producers benefited significantly from a steep increase in the gold price in 2020, with gold seen as a safe haven amid the COVID-19 pandemic and interest rate cuts and huge liquidity injections by central banks and governments as a response to the pandemic. This resulted in strong inflows into gold-backed exchange-traded funds (ETF) and supported gold prices. Despite of the strong recovery in gold demand along with ETF inflow in Q2 2021, global gold demand fell by 10% in H1 2021, against H1 2020, mainly due to the effects of the COVID-19 outbreak and lower demand from China. China and India are the largest gold-consuming countries in the world, together accounting for more than half of the total demand.
What is the categorization of South African gold mining assets?
The South Africa gold mines are categorized into active mines, development projects and exploration projects, further categorized according to their mining stages along with additional information as total resources, equity owners etc.
Who are the major players in the South Africa gold mining market?
Harmony Gold, Sibanye Stillwater Ltd, and Gold Fields Ltd are the top three gold producers in South Africa.
Harmony Gold Mining Company carries out underground and surface gold mining, exploration, processing and smelting activities in South Africa and Papua New Guinea. Sibanye Stillwater Ltd (Sibanye-Stillwater), formerly Sibanye Gold Ltd, is a precious metal and mining company, headquartered in Westonaria, South Africa. The company was the second largest gold producer in South Africa.
South Africa gold mining market, by key companies
To know more about key companies, download the free sample report
Market report scope
|Market volume (Year – 2020)
|CAGR of >3% from 2021 to 2025
|Base year for estimation
|Active mines, Development projects, Exploration Projects
|Harmony Gold, Sibanye Stillwater Ltd, and Gold Fields Ltd
The report also provides detailed information on reserves, production, production by company and country, major active, exploration and development projects by region.
Reasons to Buy
- To gain a comprehensive evaluation of the impact of the COVID-19 on South Africa’s gold mining industry
- To understand the historical and forecast trend on the country’s gold production
- To understand production by major producers, by mines and trend of gold prices
- To get an overview on demand from Chinese market
- To evaluate major active, exploration and development mines of gold in the country
Pan African Resources
Table of Contents
Table of Contents
| About GlobalData
1 Executive Summary
2 Reserves, Production and Prices
2.1 Gold Reserves
2.2 Gold Production
2.3 Production by Company
2.4 Gold Prices
3 Gold Assets
3.1 Active Mines
3.2 Exploration Projects
3.3 Development Projects
4 Demand Drivers
5 Major Producers
5.1 Mines and Projects
5.2 Company Profiles
– Harmony Gold
– Sibanye Stillwater Ltd.
– Gold Fields Ltd
– Pan African Resources Plc
6 Fiscal Regime
6.1 Governing Bodies
– Department of Mineral Resources and Energy (DMRE)
– Council for Geoscience (CGS)
– Council for Mineral Technology (Mintek)
– Mining Qualifications Authority (MQA)
– South African Diamond and Precious Metals Regulator (SADPMR)
– Diamond Exchange and Export Centre (DEEC)
– State Diamond Trader (SDT)
– Mine Health and Safety Council (MHSC)
– National Nuclear Regulator (NNR)
– Department of Environmental Affairs
6.2 Laws, Licenses, and Permits
– Minerals and Petroleum Resources Development Act
– Mineral and Petroleum Resources Royalty Act
– Precious Metals Act
– Precious Metals Licenses and Permits
– Nuclear Energy Act
– National Nuclear Regulatory Act
– Mine Health and Safety Act
– Diamond Export Levy (Administration) Act
– Broad-Based Black Economic Empowerment Amendment Act
6.3 Prospecting and Mining Rights
– Application for a Prospecting Right or a Mining Right
– Prospecting Rights
– Mining Rights
6.4 Prospecting and Mining Obligations
– Prospecting Rights Holders
– Prospecting Right Holders
– Mining Right Holders
– Retention Right Holders
– Environmental Protection and Assessment
– Issuance of a Closure Certificate
– Cancellation and Suspension of Rights
6.5 Taxes and Royalties
– Corporate Income Tax (CIT)
– Withholding Tax
– Value-Added Tax (VAT)
– Diamond Export Levy
– Carbon Tax
7.4 Secondary Research
| Contact Us
Table 1: South Africa Gold Mining – Top Active Mines in South Africa by Metal Reserves (Million Ounces)
Table 2: South Africa Gold Mining – Historical and Forecast Gold Production in South Africa (Thousand Ounces), 2005-2025
Table 3: South Africa Gold Mining – Gold Prices Quarterly (US$/Ounces), Q1 2015-Q2 2021
Table 4: South Africa Gold Mining – Active Mines, 2021
Table 5: South Africa Gold Mining – Exploration Projects, 2021
Table 6: South Africa Gold Mining – Development Projects, 2021
Table 7: South Africa Gold Mining – Number of Operating, Development and Exploration Projects by Company and Stage, 2021
Table 8: South Africa Gold Mining – Harmony Gold, Major Projects, 2021
Table 9: South Africa Gold Mining – Sibanye Stillwater Ltd., Major Projects, 2021
Table 10: South Africa Gold Mining – Gold Fields Ltd, Major Projects, 2021
Table 11: South Africa Gold Mining – Pan African Resources Plc, Major Projects, 2021
Table 12: South Africa’s Mining Fiscal Regime – DMRE Programmes, 2020
Table 13: South Africa’s Mining Fiscal Regime – MHSC Committees, 2020
Table 14: South Africa’s Mining Fiscal Regime – Depreciation Write-off Period (Years), 2020
Figure 1: South Africa Gold Mining – Gold Reserve by Country (%), As of January 2021
Figure 2: South Africa Gold Mining – Historic and Forecast Gold Production in South Africa (Thousand Ounces), 2005-2025
Figure 3: South Africa Gold Mining – Share of Gold Production by Major Company (%), 2020
Figure 4: South Africa Gold Mining – Gold Production by Major Company (Thousand Ounces), 2019-2020
Figure 5: South Africa Gold Mining – Gold Prices Quarterly (US$/Ounces), Q1 2014-Q2 2021
Figure 6: South Africa Gold Mining – China Gold Consumption (Million Ounces), 2015-2020
Figure 7: South Africa Gold Mining – Number of Operating, Development and Exploration Projects by Company and Stage, 2021
Frequently asked questions
What is the South Africa gold mining market volume in 2020?
The South Africa gold mining market volume was estimated at 2.7Mt in 2020.
What is the South Africa gold mining market growth rate?
The South Africa gold mining market is expected to grow at a compound annual growth rate of more than 3% from 2021 to 2025.
Who are the key players in South Africa Gold mining market?
Harmony Gold was the leading company in 2020, followed by Sibanye Stillwater Ltd., and Gold Fields Ltd.
What are the major asset categories in South Africa Gold mining market?
The South African gold mining assets are categorized into active mines, development projects and exploration projects.
Tel +44 20 7947 2745
Every customer’s requirement is unique. With over 220,000 construction projects tracked, we can create a tailored dataset for you based on the types of projects you are looking for. Please get in touch with your specific requirements and we can send you a quote.
Business Intelligence & Marketing Manager, SAL Heavy Lift
“The GlobalData platform is our go-to tool for intelligence services. GlobalData provides an easy way to access comprehensive intelligence data around multiple sectors, which essentially makes it a one-for-all intelligence platform, for tendering and approaching customers.
GlobalData is very customer orientated, with a high degree of personalised services, which benefits everyday use. The highly detailed project intelligence and forecast reports can be utilised across multiple departments and workflow scopes, from operational to strategic level, and often support strategic decisions. GlobalData Analytics and visualisation solutions has contributed positively when preparing management presentations and strategic papers.”
Market Analyst & Management, Liebherr-Werk
“COVID-19 has caused significant interference to our business and the COVID-19 intelligence from GlobalData has helped us reach better decisions around strategy. These two highlights have helped enormously to understand the projections into the future concerning our business units, we also utilise the project database to source new projects for Liebherr-Werk to use as an additional source to pitch for new business.”
Head of Key Accounts, Saab AB
Your daily news has saved me a lot of time and keeps me up-to-date with what is happening in the market, I like that you almost always have a link to the source origin. We also use your market data in our Strategic Business Process to support our business decisions. By having everything in one place on the Intelligence Center it has saved me a lot of time versus looking on different sources, the alert function also helps with this.
Marketing Intelligence Manager, Portugal Foods
Having used several other market research companies, I find that GlobalData manages to provide that ‘difficult-to-get’ market data that others can’t, as well as very diverse and complete consumer surveys.
Head of Customer Insight and Research, Standard Chartered
Our experience with GlobalData has been very good, from the platform itself to the people. I find that the analysts and the account team have a high level of customer focus and responsiveness and therefore I can always rely on. The platform is more holistic than other providers. It is convenient and almost like a one stop shop. The pricing suite is highly competitive and value for our organisation.
I like reports that inform new segments such as the analysis on generation Z, millennials, the impact of COVID 19 to our banking customers and their new channel habits. Secondly the specialist insight on affluent sector significantly increases our understanding about this group of customers. The combination of those give us depth and breadth of the evolving market.
I’m in the business of answering and helping people make decisions so with the intelligence center I can do that, effectively and efficiently. I can share quickly key insights that answer and satisfy our country stakeholders by giving them many quality studies and primary research about competitive landscape beyond the outlook of our bank. It helps me be seen as an advisory partner and that makes a big difference. A big benefit of our subscription is that no one holds the whole data and because it allows so many people, so many different parts of our organisation have access, it enables all teams to have the same level of knowledge and decision support.
Head of Consumer Sensory Insights, Givaudan
“I know that I can always rely on Globaldata’s work when I’m searching for the right consumer and market insights. I use Globaldata insights to understand the changing market & consumer landscape and help create better taste & wellbeing solutions for our customers in food, beverage and healthcare industries.
Globaldata has the right data and the reports are of very high quality compared to your competitors. Globaldata not only has overall market sizes & consumer insights on food & beverages but also provides insights at the ingredient & flavour level. That is key for B2B companies like Givaudan. This way we understand our customers’ business and also gain insight to our unique industry”
Senior Account Manager, TSYS
GlobalData provides a great range of information and reports on various sectors that is highly relevant, timely, easy to access and utilise. The reports and data dashboards help engagement with clients; they provide valuable industry and market insights that can enrich client conversations and can help in the shaping of value propositions. Moreover, using GlobalData products has helped increase my knowledge of the finance sector, the players within it, and the general threats and opportunities.
I find the consumer surveys that are carried out to be extremely beneficial and not something I have seen anywhere else. They provided an insightful view of why and which consumers take (or don’t) particular financial products. This can help shape conversations with clients to ensure they make the right strategic decisions for their business.
One of the challenges I have found is that data in the payments space is often piecemeal. With GD all of the data I need is in one place, but it also comes with additional market reports that provide useful extra context and information. Having the ability to set-up alerts on relevant movements in the industry, be it competitors or customers, and have them emailed directly to me, ensures I get early sight of industry activity and don’t have to search for news.