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South Africa's Mining production declines 4.2% in June

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CAPE TOWN (Scrap Register): South Africa's mining production decreased by 4.2% year-on-year in June, following May’s 1.5% year-on-year dip, mining production and sales statistics published by Statistics South Africa (Stats SA) showed.

Gold was the largest negative contributor at -16% and contributing -2.1 percentage points, followed by diamonds at -33.2% and contributing -1.7 percentage points.

Platinum-group metals (PGMs) were at -6.3% and contributed -1.6 percentage points.

Seasonally adjusted mining production increased by 3.3% in June, compared with May. This followed month-on-month changes of 3.1% in May and -1.7% in April.

Seasonally adjusted mining production increased by 3.5% in the second quarter of the year, compared with the first quarter of the year.

The largest positive contributors were iron-ore at 11.8% and contributing 1.4 percentage points, manganese ore at 21.2% and contributing one percentage point, and coal at 3.6% and contributing 0.9 of a percentage point.

Meanwhile, Stats SA said mineral sales had increased by 6.5% year-on-year in June. The largest positive contributors were iron-ore at 76.6% and contributing 5.9 percentage points, PGMs at 9.9% and contributing 2.3 percentage points, and ‘other’ metallic minerals at 70.7% and contributing 1.8 percentage points.

Seasonally adjusted mineral sales, at current prices, decreased by 2.3% in June, compared with May. This followed month-on-month changes of -0.8% in May and 1.3% in April.

In the second quarter of the year, the seasonally adjusted value of mineral sales, at current prices, was 2.6% higher than in the first quarter of the year.

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