Johannesburg – Mining production in SA fell by 4.5% year on year (y/y) in November after a revised 8.0% (7.7%) (y/y) decrease in October‚ data released by Statistics SA showed on Tuesday.
The highest negative growth rate was recorded for copper (-57.3%)‚ followed by gold (-32.27%) and other metallic minerals (-13.0%). The main contributors to the 4.5% decrease were gold (contributing -5.5% points); and copper (contributing -0.9% point).
The seasonally adjusted mining production increased by 10.6% in November compared with October. This followed month-on-month (m/m) changes of -8.1% in October and -7.0% in September.
Seasonally adjusted mining production decreased by 10.9% in the three months ended November compared with the previous three months. The main contributors to the 10.9% decrease were gold (contributing -4.0% points); platinum group metals (contributing -3.2% points); and iron ore (contributing -2.3% points).
Mineral sales decreased by 13.5% (y/y) in October. The largest negative growth rate was recorded chromium ore (-42.9%)‚ followed by other metallic minerals (-37.1%)‚ copper (-35.2%)‚ and gold (-27.1%).
The major contributors to the 13.5% decrease were gold (contributing -5.6% points); coal (contributing -2.5% points); and iron ore (contributing -1.7% points).
Seasonally adjusted mineral sales at current prices decreased by 4.8% in October compared with September following (m/m) changes of -7.5% in September and 0.9% in August.
Seasonally adjusted mineral sales at current prices decreased by 6.7% in the three months ended October compared with the previous three months.
The decrease was mainly driven by the sales value of gold‚ coal‚ and iron ore.
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