PGMs, iron-ore, coal drag mining production down by 2.7% in January
Statistics South Africa reports that mining production decreased by 2.7% year-on-year in January, with the largest negative contributors having been iron-ore, platinum group metals (PGM) and coal.
These sectors decreased output by -15.1%, -3.8% and -4.4%, respectively, in the month and contributed -2.7, -1.1 and -1 percentage points to the headline figure, respectively.
On the other hand, manganese ore output increased 21.2% and added 1.2 percentage points to the headline figure as the largest positive contributor.
Seasonally adjusted mining production decreased by 1.2% in January compared with December last year, which followed month-on-month changes of -3.7% in December and 0% in November.
For the three months ended January 31, seasonally adjusted mining production decreased by 3.5% compared with the previous three months, with PGMs and iron-ore again recording decreased in output of 4.2% and 5.1%, respectively. Gold output also contracted by 4.7%.
These commodities contributed -1.3, 0.7 and 0.6 percentage points to the headline figure.
Mineral sales at current prices decreased by 5.9% year-on-year in January, with the largest positive contributor having been coal at 14.2% growth in sales and contributing 3.1 percentage points.
The drags on mineral sales were gold, reporting 21.1% lower sales and contributing -5.8 percentage points and chromium ore, recording 26.8% lower sales and contributing -1.7 percentage points to the headline figure.
Seasonally adjusted mineral sales increased, however, by 2.5% in January compared with December, which followed month-on-month changes of -10.1% in December and 5.9% in November.
In the three months ended January 31, seasonally adjusted mineral sales increased by 6.8% compared with the previous three months.
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