Mining production declines in December

Statistics South Africa released the latest mining production data on Thursday.

Manganese ore,gold and diamonds were the largest negative contributors.

Principal survey statistician Juan-Pierre Terblanche said iron ore was a significant positive contributor with 1,3%. 

"Seasonally adjusted mining production decreased by 0,8% in January 2024 compared with December 2023. This followed month-on-month changes of -4,6% in December 2023 and 2,2% in November 2023.

“Seasonally adjusted mining production increased by 0,1% in the three months ended January 2024 compared with the previous three months. The largest positive contributor was coal (3,9% and contributing 1,0 percentage point).

“Manganese ore (-6,8% and contributing -0,5 of a percentage point) and gold (-3,5% and contributing -0,5 of a percentage point) were significant negative contributors," he said.

Terblanche said mineral sales at current prices increased by 5,7% year-on-year in January.

“The largest positive contributors were gold (113,3% and contributing 15,4 percentage points); and iron ore (11,9% and contributing 1,6 percentage points).

 “Platinum Group Metals PGMs (-25,3% and contributing -6,4 percentage points) and coal (-13,6% and contributing -3,6 percentage points) were significant negative contributors.

“Seasonally adjusted mineral sales at current prices decreased by 2,0% in January 2024 compared with December 2023. This followed month-on-month changes of 4,1% in December 2023 and 2,9% in November 2023.

“Mineral sales at current prices increased by 12,4% in the three months ended January 2024 compared with the previous three months.”

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