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South Africa's mining sector contracts 14.9% in April as gold and platinum group metals production down - report

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(Kitco News) - According to Statistics South Africa (StatsSA), the domestic mining production decreased by 14.9% year-on-year in April 2022.

StatsSA said that the largest negative contributors were platinum group metals (production decreased 22.6%, contributing -5.8 percentage points); coal (production decreased 14.7%, contributing -3.8 percentage points); gold (production decreased 27.8%, contributing -3.6 percentage points); and manganese ore (production decreased 10.4%, contributing -1.1 percentage points).

The agency added that seasonally adjusted mining production in South Africa decreased by 4.3% in April 2022 compared with March 2022. This followed month-on-month changes of 3.2% in March 2022 and -5.8% in February 2022.

Similarly, seasonally adjusted domestic mining production decreased by 3.2% in the three months ended April 2022 compared with the previous three months. The largest negative contributors were platinum group metals (output down 8.3%, contributing -2.0 percentage points) and gold (output down 9.8%, contributing -1.3 percentage points).

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