Platinum drags down SA mining production index
South Africa’s mining sector lost momentum in the three months from May to July 2026. The index measuring the total output of South Africa’s mining sector dropped by 5.5% in the three-month period compared with the previous three-month period (February to April).
The drop is driven by platinum group metals (PGMs) which contribute a hefty 27% to the mining output index, followed by coal, which contributes 26%. Together those two make up 53% of the total index, so the drop in PGMs of 14.3% has a big effect on the overall index.
The PMGs have been on a three-month high. In February they were on 110.3% (of the volume at the index’s base year of 2019) but began dropping from May and reached 85.9% in July. Coal has been slowly dropping over several years but saw a small rise in the last three-month period.
Copper increased by 12.3% in May-July compared with the February-April period. Its contribution to the mining index is only 0.75%.
After PMGs and coal, the heavy hitters on the index are iron-ore, gold and manganese ore, which all contribute over five per cent.
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