Port Harcourt — Africa’s platinum mining sector is set to experience a 6.4% year-on-year production decline in 2025, with output projected to fall to 4,771.2koz from 5,096.2koz in 2024, driven largely by operational headwinds such as power shortages, extreme weather, and rising costs in South Africa, which produces over 80% of global platinum output, reveals GlobalData, a leading data and analytics company.
GlobalData’s latest report, “Africa Mining Review – 2025,” reveals that African platinum production is forecast to grow at a compound annual growth rate (CAGR) of 1.4% during 2025-30, reaching 5,121koz by 2030.
South Africa’s platinum dominance remains anchored by significant reserves and infrastructure; however, the country continues to grapple with regulatory uncertainty and operational inefficiencies. Key projects, such as the $1 billion Waterberg Project in South Africa, which is scheduled to produce 222koz annually from 2029, are expected to bolster supply. Meanwhile, Zimbabwe is positioning itself as a competitive player, attracting investment in new platinum group metal (PGM) projects.
Gayathri Siripurapu, Senior Mining Analyst at GlobalData, comments: “African platinum mining is facing a tough year as operational constraints and adverse weather impact productivity. 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 mechanization and ESG initiatives is expected to stabilize long-term growth in the region.”
On the other hand, Zimbabwe that holds the world’s second-largest reserves of PGM is emerging as a promising growth hub for platinum supply. Investments from major miners like Impala Platinum and Anglo American Platinum are expected to expand the country’s production capacity, while beneficiation initiatives are attracting foreign capital. Zimbabwe’s platinum output is forecast to grow at a CAGR of 2.9% to 616.2koz by 2030, reflecting a more moderate but steady expansion trajectory through 2030. Key projects, such as the Mupan and Karo Platinum projects, will together add 64koz in annual capacity.
Gayathri concludes: “Zimbabwe’s government policies and geological advantage are creating opportunities for growth. 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.”
