South Africa's mining sector contracts for twelfth consecutive month, down 1.9% in January
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(Kitco News) - According to Statistics South Africa (StatsSA), the domestic mining production experienced its twelfth consecutive month of year-on-year decline, recording a decrease of 1.9% in January 2023.
StatsSA said that largest negative contributors were platinum group metals (-15.2%, contributing -3.5 percentage points) and diamonds (-15.5%, contributing -0.9 of a percentage point); this was partly offset by increased production of iron ore (12.1%, contributing 1.4 percentage points) and coal (4.1%, contributing 1.1 percentage points).
The country’s seasonally adjusted mining production increased by 4.4% in January 2023 compared with December 2022. This followed month-on-month changes of 1.3% in December 2022 and -1.0% in November 2022.
The agency added that South Africa’s seasonally adjusted mining production decreased by 0.5% in the three months ended January 2023 compared with the previous three months.
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