SA’s mining sector is barely recognisable from what it was 20 years ago. Back in the early 2000s, gold and platinum were the dominant metals, with coal and iron ore nipping at their heels.was a reliable and cheap energy supplier, and there was no need for solar panels.Fast-forward to 2023, and all that has changed. Coal is the dominant mineral, much as it is reviled in certain quarters, gold continues its decline, and so-called clean metals such as copper and lithium are in the ascendant.
For various reasons, mining giants are taking the energy transition and ESG seriously. Funders are steering clear of anything smelling of fossil fuels and carbon emissions, and that is energising the rush into clean metals. The last time this happened was in 2013. Despite this, coal is clearly in long-term decline as the world goes through its faltering energy transition.
Copper was the year’s hot commodity, representing 85% of all critical minerals transactions and 56% of the Top 40’s M&A activity.
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