Mining production down 2.6% in a year

CAPE TOWN – South Africa’s mining production declined by 2.6 percent year-on-year in May, Statistics South Africa said on Thursday.

Gold, coal and manganese ore were the top negative contributors, with gold production falling 16.2 percent compared to May 2017. Coal output fell by four percent and manganese ore production by 23 percent.

Platinum group minerals (PGM) on the other hand were a positive contributor with production rising 9.6 percent, Stats SA said.

While overall production declined, mineral sales were 15.1 percent higher than in May 2017, with gold, coal, PGM, manganese and iron ore all contributing positively.

Seasonally adjusted mining production decreased by 2.6 percent in the three-month period ending May 2018 compared with the previous three months, with eight out of the 12 minerals and mineral groups showing negative growth.  

The figures come days after the Minerals Council of South Africa said that three-quarters of the country’s gold mines had become unprofitable.

– African News Agency (ANA)