Mining tax revenue down by 50.4% y/y

With various commodity prices taking a nosedive over the past year, windfall tax gains from high commodity prices over the preceding two years have come to an end, resulting in a sharp fall in mining tax revenue, National Treasury has said. In the 2024 Budget Review released on February 21, it was revealed that, for the first 10 months of the 2023/24 fiscal year, provisional corporate tax collections from the mining sector fell by R39.2-billion or 50.4% year-on-year.