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South Africa's mining sector contracts for thirteenth consecutive month, down 5% in February

Kitco Media
By Vladimir Basov
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(Kitco News) - According to Statistics South Africa (StatsSA), the domestic mining production experienced its thirteenth consecutive month of year-on-year decline, recording a decrease of 5.0% in February 2023.

StatsSA said that largest negative contributors were coal (down 12.6%, contributing -3.7 percentage points) and diamonds (down 45.3%, contributing -2.5 percentage points); this was partly offset by increased production of iron ore (up 30.6%, contributing 3.1 percentage points).

The country’s seasonally adjusted mining production decreased by 4.9% in February 2023 compared with January 2023. This followed month-on-month changes of 3.3% in January 2023 and 0.6% in December 2022.

The agency added that South Africa’s seasonally adjusted mining production decreased by 0.3% in the three months ended February 2023 compared with the previous three months.

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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.

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