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(Kitco News) - According to Statistics South Africa (StatsSA), the domestic mining production decreased by 0.8% year-on-year in May 2023.
StatsSA said that largest negative contributors were platinum group metals (-7.2%) and diamonds (-31.4%); this was partly offset by increased production of gold (27.3%) and manganese ore (9.4%).
The country’s seasonally adjusted mining production decreased by 3.8% in May 2023 compared with April 2023. This followed month-on-month changes of 1.5% in April 2023 and 7.1% in March 2023.
The agency added that South Africa’s seasonally adjusted mining production increased by 3.1% in the three months ended May 2023 compared with the previous three months.
StatsSA also reported that the country’s mineral sales at current prices decreased by 11.8% year-on-year in May 2023, primarily due to lower sales of coal (-37.0%), platinum group metals (-20.1%), and iron ore (-30.2%); this was partly offset by higher sales of gold (71.8%).
Seasonally adjusted mineral sales at current prices increased by 22.7% in May 2023 compared with April 2023. This followed month-on-month changes of -12.6% in April 2023 and -2.2% in March 2023.
In the three months ended May 2023, the country’s seasonally adjusted value of mineral sales at current prices was 5.1% lower compared with the previous three months.
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