Government says it’s considering how to handle offtake agreements that function as loans or investments by China in Canadian mining companies as it continues to clamp down on critical mineral transactions.

The nation’s platinum sector — which accounts for about 70% of global output — has been a key export industry.

Platinum demand surged 25% in 2023, seen down 6% in 2024.

Platinum prices fell due to weaker growth in China and destocking by manufacturers post-Russia-Ukraine invasion.

Decisions to mothball loss-making operations could be made within the next six months.

The miner has announced a $1.6 billion impairment charge on its De Beers diamond business owing to faltering demand.

Anglo American said it will review its assets after a 94% plunge in annual profit.

The country's biggest mining investors are halting plans to spend billions of rand on new projects in response to a slump in profits.