Editor’s take: Under pressure
Following US President, Donald Trump’s determination to impose trade tariffs on most trading partners, the sentiment for South Africa looks rather grim. The US is a significant trading partner for SA with thousands of exports qualifying for duty-free access under AGOA. US total goods trade with South Africa was $20.5 billion in 2024 with US goods exports to SA in 2024 being $5.8 billion, down 18.3 percent ($1.3 billion) from 2023. US goods imports from SA in 2024 were $14.7 billion, up 4.9 percent ($679.4 million) from 2023. So, how will Trump’s aggressive stance play out given that retaliations from the US’s trading partners are coming in fast and furiously? Will he retract or tone down the belligerence, or add fuel to the fire? Importantly, how is South Africa going to respond to the array of challenges from the US – are we going to beg for better or play the tit for tat game? No matter the path taken, South Africans are sure to feel the pinch.
Turbulent times buoy investment in gold
Underpinned by turbulent times, the gold market is coining it, so to speak. Modern Mining recently caught up with John Reade, Chief Market Strategist at the World Gold Council, to chat about how tempestuous global events are influencing the fundamentals for gold in 2025.
Frenetic policy announcements from the new US administration on tariffs and political turmoil from gold producing areas in Africa including, the Democratic Republic of Congo (DRC), Burkina Faso and, more recently, policy changes to mining regulations for foreign companies operating in Mali, have heightened global market uncertainty and seen investors turn to gold as a safe-haven asset.
Goldstone Resource is back in the trenches
Gold miner, Goldstone Resources begins 2025 upbeat and looking forward to being back in the mining trenches as it ramps up gold production to name-plate capacity of 48 000 tons per month at its flagship Homase gold project in Ghana, says CEO, Emma Priestley.
The AIM quoted gold producer and explorer, is advancing its Homase gold project, located in the prolific Ashanti Gold Belt in Ghana. The Homase mine, formerly operated by AngloGold Ashanti, lies some 20 km along strike from the Obuasi Gold Mine, one of the world’s major gold mines with a total historical and current resource in excess of 70 moz.
Michelin - in the driver’s seat
Tyre specialist Michelin has a strong presence on the African continent, where it accounts for an estimated 35% of market share for surface mining and underground mining operations in sub-Saharan Africa. It also has an extensive existing portfolio with additional products set for release into the African market later this year, including its Michelin XDR 4 SPEED ENERGY™ tyre, Ashutosh Jha – Mining Marketing Vice President Africa, India and Midde East at Michelin – tells Modern Mining.
FUCHS LUBRICANTS SOUTH AFRICA doubles sales volume
An aggressive growth strategy in South Africa and sub-Saharan Africa over the last decade has resulted in a CAGR of 6% in volume sold since 2015. “The result of this is that sales volume has nearly doubled in this time,” said Paul Deppe, managing director of FUCHS LUBRICANTS SOUTH AFRICA and Regional Vice President of Sub-Saharan Africa.