Statistics SA says production in the mining sector declined considerably in January. Data from Stats SA shows the sector recorded a decrease of 3.3% year-on-year in January compared to a 0.2% year-on-year increase in December.
The largest negative contributors were manganese ore, gold, and diamonds.
“According to the data, mineral sales at current prices increased year-on-year in January. Iron ore and gold were the largest positive contributors in this period. Seasonally adjusted mining production decreased by 0.8% in January compared with December. PGMs and coal were significant negative contributors in January. The sector has been battling low commodity prices, load shedding, and logistics challenges that have impacted business activity negatively.”
#Mining production decreased by 3,3% y/y in January 2024, led by declines in manganese ore, gold and diamond production.
Listen here for more: https://t.co/CLbLO8wfGZ #StatsSA pic.twitter.com/04IchYK3bn
— Stats SA (@StatsSA) March 14, 2024
