Lower PGM, gold, manganese ouptut drag South Africa's Aug mining production down by 0.2% y/y
South Africa's mining production decreased by 0.2% year-on-year in August, driven by lower platinum group metal (PGM), gold and manganese ore production, but offset by higher coal output.
PGM production decreased by 3% year-on-year, gold by 3.6% year-on-year and manganese ore by 3.4% year-on-year in August, while coal production increased by 4.1%.
The country's mining production also decreased by 1.2% month-on-month in August, Statistics South Africa (Stats SA) reports.
This followed the month-on-month increases in output of 1.2% for July and 0.3% for June.
Stats SA reports that mining production for the three months ended August 31, however, increased by 3.3% compared with the previous three months. PGMs and coal were the largest positive contributors for the three-month period.
MINERAL SALES
Minerals sales, meanwhile, increased by 23.3% year-on-year in August.
The largest positive contributors were gold (471.5% and contributing 17.9 percentage points) and PGMs (44.1% and contributing 9.5 percentage points).
The largest negative contributors were manganese ore (-24.7% and contributing -2.3 percentage points) and iron-ore (-14% and contributing -2.1 percentage points).
Seasonally adjusted mineral sales at current prices decreased by 2.9% month-on-month in August. This followed month-on-month changes of 10.1% in July and -6.9% in June.
Seasonally adjusted mineral sales at current prices increased by 4.7% in the three months ended August, compared with the previous three months.
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