South Africa's mining sector contracts 9.3% in March - report
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(Kitco News) - According to Statistics South Africa (StatsSA), the domestic mining production decreased by 9.3% year-on-year in March 2022.
StatsSA said that the largest negative contributors were gold (-25.6%, contributing -3.7 percentage points), iron ore (-24.4%, contributing -2.5 percentage points), manganese ore (-19.8%, contributing -1.9 percentage points), and platinum group metals (-8.2%, contributing -1.9 percentage points).
The agency added that production of diamonds (44.3%, contributing 1.6 percentage points) was a significant positive contributor.
According to the report, seasonally adjusted mining production in South Africa increased by 1.7% in March 2022 compared with February 2022. This followed month-on-month changes of -6.0% in February 2022 and 6.0% in January 2022.
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