By Lehlohonolo Lehana.
South Africa mining output fell 12.7% year on year in August, Statistics South Africa (Stats SA) said on Tuesday, 13 October.
The drop was far deeper than July’s revised decline of 7.0% and the steepest since October 2022.
PGMs production contracted by 22.5%, contributing -6.1 percentage points to the overall figure. Coal production decreased by 11.7%, contributing -3 percentage points and iron-ore output was down by 16.2%, contributing -2.4 percentage points.
Further, seasonally adjusted mining production decreased by 5.4% month-on-month in August. This followed month-on-month changes of -1.9% in July and 0.4% in June.
In addition, seasonally adjusted mining production decreased by 5.2% in the three months ended August 31, compared with the previous three months. The largest negative contributors were PGMs (-14.4% and contributing -4.1 percentage points); iron-ore (-5.7% and contributing -0.8 of a percentage point); and diamonds (-23% and contributing -0.4 of a percentage point).
Meanwhile, Stats SA reports that mineral sales at current prices decreased by 15.1% year-on-year in August, with the largest negative contributors being gold (-48.6% and contributing -8.6 percentage points); iron-ore (-23% and contributing -2.4 percentage points); PGMs (-7.5% and contributing -1.9 percentage points); and coal (-7.8% and contributing -1.9 percentage points).
Seasonally adjusted mineral sales at current prices decreased by 7.9% month-on-month in August. This followed month-on-month changes of -13.7% in July and 1.1% in June.
Seasonally adjusted mineral sales at current prices decreased by 13.3% in the three months ended August 31, compared with the previous three months.