South Africa: Mining production up slightly in December

South African mining production increased by 0.6% year-on-year in December, with platinum group metals and coal the main drivers of growth.

Statistics South Africa released the latest mining production data on Tuesday.

Platinum group metals, manganese ore and chromium ore were the largest contributors to the sector’s growth.

Principal survey statistician Juan-Pierre Terblanche said the mining production decreased by 4,2% in December 2023 compared to the previous month.

“Total mining production was 0,4% lower in 2023 compared with 2022. The 0,4% decrease in annual mining production followed a decrease of 7,2% in 2022 and an increase of 12,7% in 2021. Seasonally adjusted mining production decreased by 4,2% in December 2023 compared with November 2023. This followed month-on-month changes of 2,7% in November 2023 and 2,0% in October 2023.”

Mineral sales at current prices increased by 9,2% year-on-year in December 2023.

Terblanche said the largest positive contributors were gold, iron ore and chromium ore.  

“Total mineral sales at current prices were 10,3% lower in 2023 compared with 2022. The 10,3% decrease in annual mineral sales followed increases of 3,1% in 2022 and 39,8% in 2021.

“Seasonally adjusted mineral sales at current prices increased by 4,2% in December 2023 compared with November 2023. This followed month-on-month changes of 2,9% in November 2023 and 13,3% in October 2023. Mineral sales at current prices increased by 16,8% in the fourth quarter of 2023 compared with the third quarter of 2023.”

This article and image originally appeared on Jacaranda FM