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South Africa's mine output for August down 2.5% y/y

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South Africa's mine output for August down 2.5% y/y

Posted on : 13-10-2023 | Author : Creamer Media Reporter

Photo by Pixabay

In August, mining production saw a year-on-year decrease of 2.5%, with significant negative contributions from diamond, manganese ore, and other metallic minerals. Diamond production declined by 54.6%, manganese ore by 7.9%, and other metallic minerals by 17.6% year-on-year. However, seasonally adjusted mining production increased by 0.8% month-on-month in August. This follows month-on-month changes of -1.7% in July 2023 and 0.8% in June.

For the three months ending in August, seasonally adjusted mining production decreased by 2% compared to the previous three months. The primary negative contributors were gold (-6.5%), coal (-2.8%), and manganese ore (-6%).

In contrast, mineral sales at current prices experienced a 16.1% year-on-year decrease in August, primarily driven by declines in platinum group metals and coal. However, seasonally adjusted mineral sales at current prices increased by 6.7% month-on-month in August. This came after month-on-month changes of -5.8% in July and -13.6% in June.

For the three months ending in August, mineral sales at current prices decreased by 5.7% compared to the previous three months.