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South Africa's mining sector contracts by 7.2% in 2022 - report

Kitco Media
By Vladimir Basov
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(Kitco News) - According to Statistics South Africa (StatsSA), the domestic mining production decreased by 3.5% year-on-year in December 2022.

StatsSA said that largest negative contributors were iron ore (-15.2%, contributing -2.1 percentage points); diamonds (-36.9%, contributing -1.9 percentage points); and platinum group metals (-5.3%, contributing -1.5 percentage points).

The agency added that total mining production in South Africa contracted by 7.2% in 2022 compared with 2021. The 7.2% contraction in annual mining production followed an increase of 11.6% in 2021 and a decrease of 10.4% in 2020.

The country’s seasonally adjusted mining production increased by 1.2% in December 2022 compared with November 2022. This followed month-on-month changes of -0.8% in November 2022 and -2.9% in October 2022.

Seasonally adjusted mining production in South Africa decreased by 3.4% in the fourth quarter of 2022 compared with the third quarter of 2022, primarily due to lower production of diamonds, iron ore, and 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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