South Africa’s mining production declined by 2.8% year-on-year in March, weighed down by sharp drops in platinum group metals (PGMS) and gold, according to the latest data from Statistics South Africa (Stats SA).
The downturn was primarily fuelled by a 9.9% year-on-year slump in PGM production and an 11.1% fall in gold output, as operational challenges and weaker global demand continued to pressure the sector.
However, iron ore production provided some relief, rising 7.5% year-on-year and partially offsetting the losses.
On a seasonally adjusted basis, mining production showed signs of recovery in March, increasing 3.5% month-on-month after a 4.1% contraction in February.
Despite this short-term rebound, the sector struggled in the first quarter of 2025, with overall output shrinking 4.5% compared to the fourth quarter of 2024.
PGMS were once again the biggest drag, while iron ore helped cushion the blow.
While production faltered, mineral sales at current prices saw a modest 1.6% year-on-year increase in March, driven by stronger performances in gold, iron ore, and coal.
PGMS, however, remained a weak spot, recording the largest negative contribution.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
