South Africa's mining output declined 12.7% year-on-year in August, according to Statistics South Africa, with platinum group metals, coal, and iron ore accounting for the largest negative contributions.
Platinum group metals production fell 22.5%, subtracting 6.1 percentage points from the overall figure.
Coal output dropped 11.7%, contributing a negative 3 percentage points, while iron ore declined 16.2%, taking off 2.4 percentage points.
On a seasonally adjusted basis, mining production decreased 5.4% month-on-month in August, following a 1.9% decline in July and a 0.4% rise in June.
For the three months ended August 31, seasonally adjusted mining production was down 5.2% compared with the prior three months.
The main drags were platinum group metals (down 14.4%, contributing -4.1 percentage points), iron ore (down 5.7%, contributing -0.8 of a percentage point), and diamonds (down 23%, contributing -0.4 of a percentage point).
Mineral sales at current prices fell 15.1% year-on-year in August.
The largest negative contributors were gold, which plunged 48.6% and subtracted 8.6 percentage points; iron ore, down 23% and contributing -2.4 percentage points; platinum group metals, down 7.5% and contributing -1.9 percentage points; and coal, down 7.8% and contributing -1.9 percentage points.
Seasonally adjusted mineral sales at current prices decreased 7.9% month-on-month in August, after declines of 13.7% in July and a 1.1% increase in June.
For the three months ended August 31, seasonally adjusted mineral sales were down 13.3% compared with the previous three months.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
