Tag Archives: Mining industry
SA mining industry sees a turnaround in financial performance amid a challenging operating environment
2017 was another challenging year for South Africa’s mining industry in light of a decrease in dividends and market capitalisation, various retrenchments across the industry, and marginal increases in taxes paid. However, spot price increases for bulk commodities supported the industry and resulted in a return to profitability after the first substantial increase in revenues in five years. These are some of the highlights from PwC’s ninth edition of SA Mine, a series of publications that highlights trends in the South African mining industry released by PwC.
Mali is the third largest gold producer in Africa and gold mining has become a mainstay of the economy with a high potential of funding economic development and poverty reduction. With the country’s improving governmental policies encouraging a more sustainable transparent and diversified mining sector, Mali has become a hotspot for foreign investment and major extractive companies focusing on other minerals in the country as well such as uranium, bauxite, iron, manganese and phosphates.
While mining companies continue to be pressured by the uncertainty that looms over the global economy, the industry is on a quest to introduce innovation to help improve important business practices. Despite the challenges that remain, the mining industry is increasingly turning to digital technologies to streamline business models, capture reliable data and improve production and safety.