South Africa's mining industry expands 2% in August - report

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(Kitco News) - According to the latest databy Statistics South Africa (Stats SA), the domestic mining production increasedby 2.0% year-on-year in August 2021.

According to the report, thelargest positive contributors were gold (17.0% increase, contributing 2.0percentage points); iron ore (22.9% increase, contributing 1.9 percentagepoints); and platinum group metals (4.4% increase, contributing 1.0 percentagepoint).

Stats SA added that coal wasa significant negative contributor (-8.5% decrease, contributing -2.2percentage points).

Seasonally adjusted miningproduction in South Africa decreased by 2.4% in August 2021 compared with July2021. This followed month-on-month changes of 3.2% in July 2021 and 1.4% inJune 2021.

Additionally, Stats SA notedthat seasonally adjusted domestic mining production increased by 0.4% in thethree months ended August 2021 compared with the previous three months.

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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