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SA mining output falls again

December 11 2012 at 12:06pm

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IOL BR mining PIC001

Reuters.

Mining production in SA fell by 7.7% year on year in October after a revised 7.2% (8.3%) year-on-year decrease in September‚ data released by Statistics SA showed on Tuesday.

The highest negative growth rate was recorded for copper (-56.4%)‚ followed by gold (-45.7%) and other metallic minerals (-26.9%). The main contributor to the 7.7% decrease was gold (contributing -8.6 percentage points); and iron ore (contributing -4.0 percentage points).

The seasonally adjusted mining production decreased by 7.9% in October compared with September. This followed month-on-month changes of -7.0% in September and -2.4% in August.

Seasonally adjusted mining production decreased by 10.2% in the three months ended October compared with the previous three months. The main contributors to the 10.2% decrease was gold (contributing -3.2 percentage points); platinum group metals (contributing -2.7 percentage points); and iron ore (contributing -1.6 percentage points). - I-Net Bridge


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