Date: Jan 16, 2019
South Africa’s mining production decreased by 5.6% year-on-year in November.
Statistics South Africa on Tuesday reported that the largest contributors to the decrease had been the iron-ore, gold, diamonds and other non-metallic minerals sectors.
Commenting on the report, Investec indicated in a statement on Tuesday that this outcome was notably below market expectations.
Further, seasonally adjusted mining production decreased by 5.8% month-on-month in November.
This followed month-on-month increases of 3% in October and 0.7% in September.
Seasonally adjusted mining production for the three months ended November decreased by 1.5% compared with the previous three months.
The largest negative contributors were diamonds, iron-ore and gold, while the largest positive contributors were platinum group metals (PGMs) and manganese ore.
Meanwhile, mineral sales increased by 8% year-on-year in November, with the largest positive contributors being iron-ore, coal, PGMs and manganese ore.
Gold and ‘other’ nonmetallic minerals were considerable negative contributors.
