Photo by: Creamer Media
Mining production experienced its twelfth consecutive month of year-on-year decline in January, recording a decrease of 1.9%, Statistics South Africa (Stats SA) reports.
The largest negative contributors were platinum group metals (PGMs), with output 15.2% lower year-on-year and contributing -3.5 percentage points; and diamonds, with output 15.5% lower year-on-year and contributing -0.9 percentage points.
Iron-ore (12.1% and contributing 1.4 percentage points) and coal (4.1% and contributing 1.1 percentage points) were significant positive contributors.
Meanwhile, seasonally adjusted mining production increased by 4.4% month-on-month in January. This followed month-on-month changes of 1.3% in December and -1% in November.
Further, seasonally adjusted mining production decreased by 0.5% in the three months ended January, compared with the previous three months. The largest negative contributors were diamonds (-19.7% and contributing -1 percentage point); and ‘other’ metallic minerals (-20.1% and contributing -0.6 of a percentage point).
MINERAL SALES
Stats SA further reveals that mineral sales at current prices increased by 6.8% year-on-year in January.
The largest positive contributors were coal (18.1% and contributing 4.3 percentage points); gold (28.2% and contributing 3.2 percentage points); chromium ore (68% and contributing 2.6 percentage points); and ‘other’ metallic minerals (57.3% and contributing 1.7 percentage points).
PGMs (-15.1% and contributing -4.8 percentage points) and manganese ore (-16.6% and contributing -1.1 percentage points) were significant negative contributors.
Seasonally adjusted mineral sales at current prices, however, decreased by 0.6% month-on-month in January. This followed month-on-month changes of 9.5% in December and -7.9% in November.
For the three months ended January, the seasonally adjusted value of mineral sales at current prices was 7.2% lower compared with the previous three months.