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SA mining output falls

Mining production in SA fell by 4.5% year on year in November after a revised 8.0% (7.7%) year-on-year decrease in October‚ data released by Statistics SA showed on Tuesday.

The highest negative growth rate was recorded for copper (-57.3%)‚ followed by gold (-32.27%) and other metallic minerals (-13.0%). The main contributors to the 4.5% decrease were gold (contributing -5.5 percentage points); and copper (contributing -0.9 of a percentage point).

The seasonally adjusted mining production increased by 10.6% in November compared with October. This followed month-on-month changes of -8.1% in October and -7.0% in September.

Seasonally adjusted mining production decreased by 10.9% in the three months ended November compared with the previous three months. The main contributors to the 10.9% decrease were gold (contributing -4.0 percentage points); platinum group metals (contributing -3.2 percentage points); and iron ore (contributing -2.3 percentage points).

Mineral sales decreased by 13.5% year-on-year in October. The largest negative growth rate was recorded chromium ore (-42.9%)‚ followed by other metallic minerals (-37.1%)‚ copper (-35.2%)‚ and gold (-27.1%).

The major contributors to the 13.5% decrease were gold (contributing -5.6 percentage points); coal (contributing -2.5 percentage points); and iron ore (contributing -1.7 percentage points).

Seasonally adjusted mineral sales at current prices decreased by 4.8% in October compared with September following month-on-month changes of -7.5% in September and 0.9% in August.

Seasonally adjusted mineral sales at current prices decreased by 6.7% in the three months ended October compared with the previous three months.

The decrease was mainly driven by the sales value of gold‚ coal‚ and iron ore. - I-Net Bridge

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