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South Africa's mining sector contracts 8% in June as gold production down 29%

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(Kitco News) - According to Statistics South Africa (StatsSA), the domestic mining production decreased by 8.0% year-on-year in June 2022.

StatsSA said that largest negative contributors were gold (a decline of 28.6%, contributing -4.7 percentage points); platinum group metals (-9.8%, contributing -2.4 percentage points); and coal (-6.0%, contributing -1.6 percentage points).

The agency added that the seasonally adjusted mining production in South Africa decreased by 1.4% in June 2022 compared with May 2022. This followed month-on-month changes of 1.2% in May 2022 and -3.8% in April 2022.

According to the report, the country’s seasonally adjusted mining production decreased by 3.4% in the second quarter of 2022 compared with the first quarter of 2022, mainly due to the lower production of gold, coal, manganese ore and diamonds.

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