Yearly South African mining production fell by 0.9% in November
Mining production decreased by 0.9% year-on-year in November last year, Statistics South Africa (Stats SA) has revealed in its latest mining production update, published on January 21.
The largest negative contributors to this decline were gold, iron-ore, coal and diamonds.
Gold fell by 11.5% and contributed -1.5 percentage points, while iron-ore decreased by 3.8% and contributed -0.5 of a percentage point. Coal dropped by 1.6% and contributed -0.3 of a percentage point, along with diamonds, which declined by 11.4% and contributed -0.2 of a percentage point.
In contrast, positive contributions were observed in the production of platinum group metals (PGMs), which rose by 4% and contributed 1.3 percentage points, and chromium ore, which increased by 15.6% and contributed 0.7 of a percentage point.
Stats SA reported that seasonally adjusted mining production numbers indicated a decrease of 0.2% in November compared with October. This decline followed month-on-month changes of -2.8% in October last year and an increase of 4.2% in September.
Over the three months ending November, seasonally adjusted mining production increased by 4% compared with the previous three months. The largest positive contributors to this three-month increase were PGMs, which grew by 7.2% and contributed 2.2 percentage points; iron-ore, which rose by 9.4% and contributed 1.3 percentage points; and coal, which increased by 2.7% and contributed 0.6 of a percentage point.
Mineral sales at current prices showed an increase of 8.1% year-on-year in November last year. The largest positive contributors to this growth were gold, coal and PGMs.
Gold surged by 93.4% and contributed 11.4 percentage points, while coal increased by 8.5% and contributed 2.1 percentage points, and PGMs rose by 4.3% and contributed one percentage point.
The largest negative contributor was iron-ore, which fell by 28.2% and contributed –4.4 percentage points.
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