Mining giants such as Sibanye Stillwater have been caught in the perfect storm of rising operating costs and declining mineral prices, leading to significant losses in value this year.<\/p>\n\n\n\n
Sibanye Stillwater, a major mining company in South Africa, has seen its share price drop by over 42% since the beginning of the year.<\/p>\n\n\n\n
The company focuses on mining platinum group metals (PGMs) and gold, with operations in Marikana and Rustenburg.<\/p>\n\n\n\n
Sibanye Stillwater was first listed on the JSE in 2013, after it was released as a subsidiary of Gold Fields.<\/p>\n\n\n\n
After the unbundling, the company inherited mature gold-mining operations at Kloof and Driefontein.<\/p>\n\n\n\n
On 2 January 2026, the company’s share price was R60.82, which fell to R35.18 on 24 July 2026\u2014a decline of R74 billion in its market value.<\/p>\n\n\n\n
The group started the year with a market cap of around R173 billion, declining to around R99 billion at last week’s close.<\/p>\n\n\n\n
The drop has come as global platinum prices fell, losing approximately 23% of their value since the start of the year.<\/p>\n\n\n\n
Sibanye Stillwater has also faced pressure from rising operating costs, mainly due to the increasing electricity tariffs in South Africa.<\/p>\n\n\n\n
In the last year, Eskom has increased its electricity tariffs for bulk supply by roughly 9%, with municipalities imposing similar tariffs on residents and businesses.<\/p>\n\n\n\n
These increases place tremendous pressure on mining companies, which require large amounts of power to continue operations.<\/p>\n\n\n\n
The increased costs have led to reduced profit margins for these companies, leading to lower share prices.<\/p>\n\n\n\n
Companies such as Northam Platinum and Impala Platinum have also felt the pressure, with share prices dropping by approximately 34% for both companies.<\/p>\n\n\n\n
Northam Platinum started the year with a share price of R346.64, which has dropped to R227.20 on 24 July.<\/p>\n\n\n\n
Similarly, Impala Platinum shares were worth R269.61 on 2 January, before reducing to R177 on 24 July.<\/p>\n\n\n\n
These companies have faced similar challenges to Sibanye Stillwater, with the historic rise in South Africa\u2019s electricity tariffs placing pressure on mining operations across the country.<\/p>\n\n\n\n
Other major mining operations, such as Kumba and Gold Fields, have also seen a drop in their share prices on the JSE.<\/p>\n\n\n\n
Below is a list of the ten companies on the JSE top 40 which have seen the largest drop in share prices since the start of 2026:<\/p>\n\n\n\n Despite performing well in many aspects, Naspers has seen a notable decline in its share price since the start of the year.<\/p>\n\n\n\n Naspers is a technology investment company with a large portfolio both in South Africa and abroad.<\/p>\n\n\n\n In South Africa, the company owns significant portions of popular sites such as Takealot, Property24, and Autotrader.<\/p>\n\n\n\n It also has investments in educational sites such as Udemy, Brainly, and Stack Overflow, which are based outside of South Africa.<\/p>\n\n\n\n Despite many of its investments performing well, one of its largest investments, Tencent, has pulled down share prices.<\/p>\n\n\n\n Tencent is a technology company based in China, which has suffered from regulatory challenges and economic caution in its home country.<\/p>\n\n\n\n These challenges saw the technology giant lose a large amount of its value on the Hong Kong stock exchange.<\/p>\n\n\n\n Any changes in Tencent’s value have a profound effect on Naspers’ share price, which dropped from R1111.77 on 2 January to R789.60 on 24 July.<\/p>\n\n\n\n Another company that has seen a decline in the last year is Pepkor, the business behind notable names such as Pep Stores and Ackermans.<\/p>\n\n\n\n The business had impressive earnings in the last financial year, but its share prices have not reflected this upward trajectory.<\/p>\n\n\n\n In its latest interim results for the six months ended in March, Pepkor reported a 12% increase in headline earnings, indicating notable growth.<\/p>\n\n\n\n Despite this, the company\u2019s share price dropped from R26.75 on 2 January to R20.60 on 24 July.<\/p>\n\n\n\n The company currently has between R180 million and R200 million in bad debt, adding to the bearish position of many investors.<\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" Mining giants have been caught in the perfect storm of rising operating costs and declining mineral prices, leading to significant losses in value this 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name<\/strong><\/td> 2 January share price<\/strong><\/td> 24 July share price<\/strong><\/td> Decline %<\/strong><\/td><\/tr> Sibanye Stillwater<\/td> R60.82<\/td> R35.18<\/td> -42.2%<\/td><\/tr> Northam Platinum<\/td> R346.64<\/td> R227.20<\/td> -34.5%<\/td><\/tr> Impala Platinum<\/td> R269.61<\/td> R177.00<\/td> -34.4%<\/td><\/tr> Prosus<\/td> R1,050.00<\/td> R700.53<\/td> -33.3%<\/td><\/tr> Naspers<\/td> R1,111.77<\/td> R789.60<\/td> -29.0%<\/td><\/tr> Kumba<\/td> R359.50<\/td> R261.43<\/td> -27.3%<\/td><\/tr> Gold Fields<\/td> R719.18<\/td> R548.93<\/td> -23.7%<\/td><\/tr> Pepkor<\/td> R26.75<\/td> R20.60<\/td> -23.0%<\/td><\/tr> Valterra Platinum<\/td> R1,450.00<\/td> R1,120.38<\/td> -22.7%<\/td><\/tr> Reinet Investments<\/td> R576.48<\/td> R447.85<\/td> -22.3%<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n Naspers and Pepkor under pressure<\/h2>\n\n\n\n