South Africa's mining industry contracts 3.4% in September - report

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(Kitco News) - According to the latest data by Statistics South Africa (Stats SA), the domestic mining production decreased by 3.4% year-on-year in September 2021.

According to the report, the largest negative contributors were coal (-8.9%, contributing -2.2 percentage points); platinum group metals (-7.5%, contributing -1.7 percentage points); and gold (-6.9%, contributing -0.9 of a percentage point).

On the other hand, Stats SA pointed out that the domestic production of manganese ore (14.2%, contributing 1.2 percentage points) was a significant positive contributor.

Stats SA added that seasonally adjusted mining production in South Africa decreased by 3.7% in September 2021 compared with August 2021. This followed month-on-month changes of -2.0% in August 2021 and 3.6% in July 2021.

Seasonally adjusted mining production in South Africa decreased by 0.6% in the third quarter of 2021 compared with the second quarter of 2021, the authors of the report noted.

By Vladimir Basov

For Kitco News

Follow kitconewsnow vbasov@kitco.comwww.kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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