South Africa mining production down in November

By Staff reporter / January 21, 2021 / www.mining-journal.com / Article Link

Mining production was pulled down by a 35.3% drop in iron ore output, which contributed -3.9 percentage points, and a 16.1% fall in platinum group metals production, contributing -3.4 percentage points.

There has been an upward trend in production since the 47.3% yoy plunge in April 2020 caused by the country's COVID-19 shutdown.

Seasonally adjusted mining production increased by 6.3% for the three months ended November, compared with the previous three months, led by a 13.2% rise by the gold sector. 

However month-on-month, seasonally adjusted mining production was 5.7% lower in November than in October.

VTB Capital head of metals and mining research Dmitry Glushakov said he did not expect to see a resurgence in either gold or PGM production in South Africa in the following months.

"The decrease in output might be caused by lockdown in some of South Africa's export markets as well as by some of remaining restrictions in the country," he said.

"However, we do not expect a significant recovery in country's PGM mining output in December-January as the country started to impose COVID-19-related measures at the end of December amid a significant increase in new cases."

In terms of mineral sales, Stats SA said these had increased by 15.1% year-on-year in November, thanks to a 37.6% jump by PGMs which contributed 11 percentage points to the change.

Recent News

Uranium volatility after Russia's US export restrictions

November 25, 2024 / www.canadianminingreport.com

Gold stocks rebound on metal bounce and equity rise

November 25, 2024 / www.canadianminingreport.com

Crypto market size continues to catch up with gold

November 18, 2024 / www.canadianminingreport.com

Crypto stealing some of gold's thunder

November 18, 2024 / www.canadianminingreport.com

Gold stocks drop on metal price decline

November 11, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok