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South Africa's mining sector contracts 2.6% in March y-o-y

Kitco Media
By Vladimir Basov
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(Kitco News) - According to Statistics South Africa (StatsSA), the domestic mining production experienced its fourteenth consecutive month of year-on-year decline, recording a decrease of 2.6% in March 2023.

StatsSA said that largest negative contributors were diamonds (-54.7%; contributing -3.3 percentage points) and platinum group metals (-9.1%; contributing -2.2 percentage points); this was partly offset by increased production of gold (21.6%; contributing 2.8 percentage points) and manganese ore (23.1%; contributing 1.4 percentage points).

The country’s seasonally adjusted mining production increased by 6.5% in March 2023 compared with February 2023. This followed month-on-month changes of -7.0% in February 2023 and 3.8% in January 2023.

The agency added that South Africa’s seasonally adjusted mining production increased by 1.0% in the first quarter of 2023 compared with the fourth quarter of 2022.

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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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