news

South Africa's mining sector contracts 7.8% in May as gold production down 28%

Kitco Media
By Vladimir Basov
Published
Updated
Kitco News
The Leading News Source in Precious Metals

Kitco NEWS has a diverse team of journalists reporting on the economy, stock markets, commodities, cryptocurrencies, mining and metals with accuracy and objectivity. Our goal is to help people make informed market decisions through in-depth reporting, daily market roundups, interviews with prominent industry figures, comprehensive coverage (often exclusive) of important industry events and analyses of market-affecting developments.

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - According to Statistics South Africa (StatsSA), the domestic mining production decreased by 7.8% year-on-year in May 2022.

StatsSA said that largest negative contributors were gold (a decline of 28.3%, contributing -4.6 percentage points); coal (-7.3%, contributing -1.9 percentage points); and manganese ore (-14.5%, contributing -1.1 percentage points).

The agency added that the seasonally adjusted mining production in South Africa increased by 0.7% in May 2022 compared with April 2022. This followed month-on-month changes of -3.6% in April 2022 and 3.0% in March 2022.

According to the report, the country’s seasonally adjusted mining production decreased by 1.3% in the three months ended May 2022 compared with the previous three months, mainly due to the lower production of gold and manganese ore.

Turquoise Hill says copper and gold production down at Oyu Tolgoi in second quarter
Kitco Media

Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

Mdi Earth Logo

Share

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.