Multiple elements are slowing down exploration activity in South Africa. “There have been pockets of activity . . . but, overall, the industry has slowed down to a point where retrenchments are rife and new investment is slow to materialise,” says South African exploration and geotechnical services provider GeoGroup founder Dave Rossiter. He notes that the weaker rand has played “a major role” in increasing the costs of local mineral extraction, however, it has also resulted in the boosting of margins of companies exporting raw minerals, which has facilitated their survival in a declining mining sector.
