A new report has claimed that South Africa's mineral exports could reach almost $20 billion by 2009.

Research carried out by the country' department of minerals and energy has claimed that South Africa's primary mineral exports will increase by 6.8 per cent per year through to 2009, with platinum leading the way.

The report goes on to predict that such an increase should help the country to raise its export earnings to $19.9 billion by 2009, up from $13.6 billion five years earlier.

Export earnings from platinum group metals (pgms) are expected to rise from $4.6 billion in 2004 to $5.4 billion last year, the study stated.

However, it added that, while there will be higher production in South Africa during the years to 2009, export revenue is likely to decrease to around $4.6 billion on a lower platinum price in 2005.

The report suggests that pgm export earnings will eventually recover by 2009, when it anticipates earnings to achieve $5.7 billion as the price begins to rise once again.


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