Africa's leading mining companies based on market capitalization 2023

Based on market capitalization as of December 2023, Gold Fields was the largest mining company headquartered in Africa. As of that period, the market capitalization of Anglo American Platinum was 12.5 billion U.S. dollars. Anglo American Platinum ranked second, with a market cap of 10.5 billion U.S. dollars.

South Africa's mining industry

South African mining companies dominate the African mining industry. In fact, the country has one of the largest mining markets on the continent. South Africa is rich in mineral resources, especially precious metals such as platinum and gold. In 2022, the country was the leading producer of platinum worldwide, with an output of 140 metric tons. At the same time, South Africa accounted for around 23 percent of the global export trade of platinum in the same year.

Trends in Africa’s mineral sector

Due to the vastness of its mineral resources, Africa plays a key role in the global mining industry. The continent holds significant shares of minerals compared to other world regions. For instance, Africa produced around 84 percent of the world’s platinum output in 2021 and 45 percent of the global diamond gem production in 2020. However, despite the large mineral reserves, the continent faces the challenge of increasing its mining production, which also requires greater infrastructural investment.