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.
Thermal Coal’s unseasonal price slide, explained
South Africa is the source of 5% of the world’s traded thermal coal – delivering more than 60 mtpa, generating US$5.4 bn for its economy – making it one of the country’s key mined exports. Problem is, the value of this trade has dropped about 20% in the last six months. It’s a sustained decline that largely reflects a general slide across global trade prices – an exogenous hit to South Africa’s coal miners. High-profile brands of the world’s seaborne-linked coal markets (Newcastle; Richards Bay, Qinhuangdao, Kalimantan, etc) are now trading in a US$70-100 /t range, down 10-30% since 3Q24. For 2024, its total global import demand, for all traded thermal coal products, lifted 2% year-on-year to a record-high of 1.1 bt.
WGC drives industry wide responsible mining principles
The World Gold Council (WGC) has several initiatives aimed at advancing industry-wide responsible mining practices, including help to establish a single consolidated mining standard for all commodities, and pilot projects to demonstrate the benefits of incorporating artisanal gold mining into broader partnership with existing large-scale miners, as well as other local stakeholders. Head of Sustainability Strategy at the World Gold Council, John Mulligan, said the Responsible Gold Mining Principles (RGMPs) were foundational in seeking to change the narrative around responsible sourcing and consumption of gold.
Nedbank flags key trends influencing mining over the next two years
Nedbank Group, one of the largest financial services groups in Africa and a banking institution synonomous with ‘green banking’ remains closely involved in the African mining industry, playing a crucial role in advising and financing mining projects. Modern Mining caught up with Nivaash Singh, Co-head of Mining and Resources at Nedbank CIB, for a Q&A about some of the key trends set to influence the mining sector over the next two years and insight into areas of interest for miners.
Murray & Roberts Cementation takes safety to new heights
Playing a key role in driving the agenda towards zero harm is leading underground mining contractor, Murray & Roberts Cementation, which has an unwavering dedication to safety, supported by hefty investments in training, advanced technologies, and fostering a culture where safety is integral to everyday operations. The Johannesburg-based entity itself achieved an impressive milestone of 8 million fatality free shifts in January 2025.