Africa: Market for Precious Metal Ores And Concentrates 2024

Market Size for Precious Metal Ores And Concentrates in Africa

In 2022, the African market for precious metal ores and concentrates decreased by X% to $X, falling for the third year in a row after three years of growth. Overall, consumption, however, saw a abrupt slump. Over the period under review, the market attained the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Precious Metal Ores And Concentrates in Africa

In value terms, precious metal ore and concentrate production expanded to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

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Exports of Precious Metal Ores And Concentrates

Exports in Africa

In 2022, shipments abroad of precious metal ores and concentrates decreased by X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, exports faced a abrupt slump. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, precious metal ore and concentrate exports totaled $X in 2022. In general, exports, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2020 with an increase of X%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in years to come.

Exports by Country

South Africa represented the largest exporting country with an export of around X tons, which recorded X% of total exports. It was distantly followed by Eritrea (X tons), Morocco (X tons) and Tanzania (X tons), together generating a X% share of total exports. The following exporters - Sierra Leone (X tons) and Ghana (X tons) - each resulted at a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to precious metal ore and concentrate exports from South Africa stood at X%. At the same time, Ghana (X%), Morocco (X%), Eritrea (X%) and Sierra Leone (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in Africa, with a CAGR of X% from 2012-2022. By contrast, Tanzania (X%) illustrated a downward trend over the same period. While the share of South Africa (X p.p.), Eritrea (X p.p.), Morocco (X p.p.), Sierra Leone (X p.p.) and Ghana (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Tanzania (X p.p.) displayed negative dynamics.

In value terms, South Africa ($X) remains the largest precious metal ore and concentrate supplier in Africa, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports. It was followed by Morocco, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in South Africa stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (X% per year) and Morocco (X% per year).

Export Prices by Country

In 2022, the export price in Africa amounted to $X per ton, picking up by X% against the previous year. In general, the export price posted a significant increase. The pace of growth appeared the most rapid in 2014 an increase of X%. Over the period under review, the export prices reached the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was South Africa ($X per ton), while Eritrea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Morocco (X%), while the other leaders experienced more modest paces of growth.

Imports of Precious Metal Ores And Concentrates

Imports in Africa

In 2022, supplies from abroad of precious metal ores and concentrates increased by X% to X tons, rising for the sixth year in a row after three years of decline. In general, imports posted a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The volume of import peaked in 2022 and is expected to retain growth in the near future.

In value terms, precious metal ore and concentrate imports soared to $X in 2022. Overall, imports continue to indicate a tangible expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

Namibia (X tons) represented roughly X% of total imports in 2022.

Namibia was also the fastest-growing in terms of the precious metal ores and concentrates imports, with a CAGR of X% from 2012 to 2022. Namibia (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Namibia ($X) constitutes the largest market for imported precious metal ores and concentrates in Africa.

From 2012 to 2022, the average annual growth rate of value in Namibia amounted to X%.

Import Prices by Country

In 2022, the import price in Africa amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the import price showed a mild reduction. The pace of growth was the most pronounced in 2016 an increase of X%. Over the period under review, import prices attained the peak figure at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Namibia.

From 2012 to 2022, the rate of growth in terms of prices for Namibia amounted to X% per year.

Source: IndexBox Platform

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