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South Africa's mining sector contracts in August as gold production down 17.4%

Kitco Media
By Vladimir Basov
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(Kitco News) - According to Statistics South Africa (StatsSA), the domestic mining production decreased by 5.9% year-on-year in August 2022.

StatsSA said that largest negative contributors were platinum group metals (a decline of 12.9%, contributing -3.1 percentage points); gold (-17.4%, contributing -3.0 percentage points); and iron ore (-15.2%, contributing -2.0 percentage points). Manganese ore was a significant positive contributor (an increase of 25.4%, contributing 1.5 percentage points).

The agency added that seasonally adjusted mining production in South Africa was flat in August 2022 compared with July 2022. This followed month-on-month changes of 3.1% in July 2022 and -1.0% in June 2022.

According to the report, the country’s seasonally adjusted mining production increased by 0.6% in the three months ended August 2022 compared with the previous three months, mainly due to the higher production of manganese ore, which was partially offset by lower production of platinum group metals.

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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.

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