Modern Mining May 2025
Editor’s take: Shake, rattle and roll
While US President Donald Trump’s trade tariffs tiff continued to rattle markets with tit-for-tat tariff hikes playing out across the globe, the Minerals Council South Africa has raised concern that reciprocal import tariffs will damage global economic growth and lead to lower demand for the country’s minerals. On South African imports, Trump has pronounced that most of SA’s minerals and metals sold to the US are excluded from the tariffs. Nonetheless, some, like iron ore and diamonds, will be subject to the 30% reciprocal tariff. According to Minerals Council chief economist, Hugo Pienaar, platinum group metals (PGMs) – coal, gold, manganese and chrome – have been excluded from the tariffs. However, vehicle prices in the US will increase because of the 25% tariff the Trump administration has imposed on all vehicle imports.