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Cape Town - Mining production decreased by 0.8% year-on-year in November 2015, according to Stats SA.
“The largest negative contributions were recorded for iron ore (-20.4% and contributing -4.3 percentage points), other metallic minerals (-35.0% and contributing -1.0 percentage point) and manganese ore (-14.7% and contributing -0.9 of a percentage point),” Stats SA reported on Thursday.
According to Stats SA the platinum group minerals (PGMs) (24.9% and contributing 3.8 percentage points) were a significant positive contributor.
Seasonally adjusted mining production increased by 2.4% in November 2015 compared with October 2015.
This followed month-on-month changes of 1.7% in October 2015 and -4.0% in September 2015.
Outlook poor
Nedbank said on Thursday that the outlook for the mining sector remained poor with falling commodity prices and weak global demand the biggest concerns.
“Domestic matters such as possible labour challenges and infrastructure constraints will ensure that mining production remains depressed this year,” the banking service provider said.
Mining figures are volatile and have little influence on policy decisions in the short term, Nedbank said.
Mineral sales
Stats SA further reported that mineral sales decreased by 2.8% year-on-year in October 2015.
“The largest negative contributor to the decrease of 2.8% was iron ore (-50,8% and contributing -6,9 percentage points),” it reported.
Two minerals with significant positive contributions were gold (16.1% and contributing 2.8 percentage points) and PGMs (10.4% and contributing 2.0 percentage points).
“Seasonally adjusted mineral sales at current prices increased by 1.0% in October 2015 compared with September 2015. This followed month-on-month changes of 1.5% in September 2015 and -0.2% in August 2015,” according to Stats SA.
