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Mining production, sales decrease in April

9th June 2022

By: Tasneem Bulbulia

Deputy Editor Online

     

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Mining production decreased by 14.9% year-on-year in April, Stats SA reports.

The largest negative contributors were platinum-group metals (PGMs) (-22.6% and contributing -5.8 percentage points); coal (-14.7% and contributing -3.8 percentage points); gold (-27.8% and contributing -3.6 percentage points); and manganese ore (-10.4% and contributing -1.1 percentage points).

Seasonally adjusted mining production decreased by 4.3% in April compared with March.

This followed month-on-month changes of 3.2% in March and -5.8% in February.

Seasonally adjusted mining production decreased by 3.2% for the three months ended April, compared with the previous three months.

The largest negative contributors were PGMs (-8.3% and contributing -2 percentage points); and gold (-9.8% and contributing -1.3 percentage points).

MINERAL SALES

Mineral sales at current prices decreased by 0.8% year-on-year in April.

The largest negative contributors were PGMs (-24.2% and contributing -11.9 percentage points) and iron-ore (-19.9% and contributing -2.9 percentage points).

Coal (76.8% and contributing 11.2 percentage points) was a significant positive contributor.

Seasonally adjusted mineral sales at current prices decreased by 1.8% in April compared with March.

This followed month-on-month changes of 8.6% in March and 11.1% in February.

In the three months ended April, the seasonally adjusted value of mineral sales at current prices was 12.6% higher than in the previous three months.

Commenting on the statistics, Nedbank Group Economic Unit says production was weighed down by industrial action and load-shedding over the reporting period.

“As a result, volumes of most commodities recorded double-digit declines, except for other metallic- and non-metallic minerals,” the unit notes.

It highlights other notable detractors as coal and gold.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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