South Africa’s mining production dropped 1.9% in January, making it the twelfth consecutive month of year-on-year decline, data released by Statistics South Africa (Stats SA) show.
Platinum group metals (PGMs) and diamonds were the main negative contributors.
PGMs output eased 15.2% contributing -3.5 percentage points, while diamonds production was 15.5% lower contributing -0.9 percentage points.
However, iron-ore and coal were significant positive contributors with the former’s output increasing 12.1% contributing 1.4 percentage points and the latter rising 4.1% contributing 1.1 percentage points.
Stats SA said seasonally adjusted mining production rose 4.4% month-on-month in January.
The seasonally adjusted mining production however dropped 0.5% in the three months that ended January, compared with the previous three months.
The largest negative contributors were diamonds and other metallic minerals.
Diamonds fell -19.7% contributing -1 percentage point, while other metallic minerals eased -20.1% contributing -0.6 percentage point.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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