South African Mineral Royalties Triple Amid Mining Sector Boom
The latest in this situation
How it started
What happened
Official National Treasury data shows mineral royalties collected from South Africa more than tripled between April and August compared to the previous year. This surge in taxes is attributed to soaring gold and platinum prices. A review of mining companies listed in South Africa also found that revenue among those companies jumped 38% to R786 billion.
From riotimesonline.com
Why it matters
The increased mineral taxes provide a fiscal windfall for South Africa, easing pressure on government borrowing. The boom in mining profits has also driven a 23% rise in the combined market value of mining companies trading on the Johannesburg Stock Exchange.
From riotimesonline.com
Who's involved
- National TreasuryReports the mineral royalties collected from the country.
- South AfricaThe country where the mineral royalties are collected.
- Johannesburg Stock ExchangeThe stock exchange where mining companies trade.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- South AfricaSpeculative
Increased mineral royalties could boost national fiscal revenue.
- National TreasurySpeculative
The tripled mineral royalties might ease pressure on government borrowing.
- Johannesburg Stock ExchangeSpeculative
The mining company revenue surge could drive higher market valuations.
- Gold FieldsSpeculative
Gold Fields might see increased revenue due to soaring gold and platinum prices.
Possible ripples
Who this could reach next, traced step by step from the reporting. Possibilities worth considering, not forecasts.How it developed
Newest first. Tap a step to see who reported it.- Mining operations are concentrated in Mpumalanga, with royalties flowing to the National Revenue Fund.Sub-event
National Treasury reports mineral royalties collected from South African mining companies.1 source
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The entities involved
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South Africa
country in southern Africa
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Johannesburg Stock Exchange
stock exchange in Johannesburg, South Africa
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National Treasury
treasury of South Africa
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