JOHANNESBURG (miningweekly.com) – Growth in mining production slowed 0.1% year-on-year in December from 6.5% in November, according to a recent report released by Nedbank.
The easing was mainly owing to declines in the production of gold, copper, platinum-group metals (PGMs) and coal.
On a seasonally adjusted basis, mining production declined by 3.1% month-on-month in December and was down 1.7% quarter-on-quarter over the fourth quarter.
Mineral sales were down 1.4% year-on-year in December, mainly owing to the decline in sales of chromium ore, iron-ore and manganese ore. On a seasonally adjusted basis, mineral sales were down 1.1% month-on-month in December, but were up 4.6% quarter-on-quarter in the fourth quarter.
Nedbank stated that stronger global demand and firmer international commodity prices are expected to support mining production and exports this year.
“The upside will still be tempered by a generally difficult operating environment and policy uncertainty,” it noted.