South Africa's mining output jumps by 2,3% in April
South Africa's mining output increased by 2,3% in April after fourteen consecutive months of year-on-year decline.
Statistics South Africa released the latest April data on Tuesday morning, which shows that gold and coal were the biggest positive contributors to the increase, while diamond, platinum group metals (PGMs) and manganese ore were the largest negative contributors.
Gold production increased by 27,4% - contributing 3,5 percentage points to the growth, while coal increased by 12,5% increase -contributing 3,1 percentage points to the growth.
This while diamond production decreased by 41,1% contributing a -2,0 decrease, PGMs decreased by 4.6% contributing a -1,1 decrease and manganese ore decreased by 12.1% contributing -1 percentage point decrease.
StatsSA’s Juan-Pierre Terblanche says seasonally adjusted mining production increased by 1,8% in April 2023 compared with March 2023.
"This followed month-on-month changes of 6,9% in March 2023 and -7,0% in February 2023.
“Seasonally adjusted mining production increased by 0,4% in the three months ended April 2023 compared with the previous three months. The largest positive contributors were gold by 5,6% and contributing 0,9 of a percentage point and PGMs by 3,5% and contributing 0,8 of a percentage point.”
Terblanche says mineral sales at current prices decreased by 25,6% year-on-year in April 2023.
"The largest negative contributors were PGMs which decreased by 41,7% - contributing -15,2 percentage points, coal which decreased by 22,9%, contributing -6,2 percentage points and gold which decreased by 45,7% and contributing -3,5 percentage points.”
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