South Africa’s mining production decreased 0.8% year-on-year in May with platinum group metals (PGMs) and diamonds the largest negative contributors, according to Statistics South Africa (Stats SA).
PGMs output was 7.2% lower, contributing -1.9 percentage points, and diamond production was 31.4% lower contributing -1.2 percentage points.
However, the major positive contributors to mining output in May were gold, which grew by 27.3% year-on-year, and manganese ore, which grew by 9.4%.
These two commodities contributed a combined 3.4 percentage points to overall mining output.
Seasonally adjusted mining production rose 3.8% compared with April, after rising 1.5% in April and 7.1% in March.
The three months ending May 30 saw a 3.1% rise in seasonally adjusted mining output compared to the three months prior.
Gold, iron ore, and coal all contributed positively, with gold expanding at rates of 10.1%, 6%, and 1.9% respectively.
Meanwhile, StatsSA said mineral sales dropped by 11.8% year-on-year in May.
The largest negative contributors were coal, PGMs, and iron-ore as they decreased production by 37%, 20%, and 30%, respectively, contributing -10.2 percentage points, -6.2 percentage points, and -3.9 percentage points to overall production declines.
However, gold sales jumped 71.8% in May, contributing 7.3 percentage points.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
