MIN­ING PRO­DUC­TION DOWN 2.6% IN A YEAR

Swazi Observer - - BUSINESS -

JO­HAN­NES­BURG - Gold, coal and man­ganese ore were the top neg­a­tive contributors, with gold pro­duc­tion fall­ing 16.2 per cent com­pared to May 2017.

South Africa’s min­ing pro­duc­tion de­clined by 2.6 per­cent year-on-year in May, Sta­tis­tics South Africa said yes­ter­day.

Gold, coal and man­ganese ore were the top neg­a­tive contributors, with gold pro­duc­tion fall­ing 16.2 per cent com­pared to May 2017. Coal out­put fell by four per cent and man­ganese ore pro­duc­tion by 23 per cent.

Plat­inum group min­er­als (PGM) on the other hand were a pos­i­tive con­trib­u­tor with pro­duc­tion ris­ing 9.6 per cent, Stats SA said.

While over­all pro­duc­tion de­clined, min­eral sales were 15.1 per cent higher than in May 2017, with gold, coal, PGM, man­ganese and iron ore all con­tribut­ing pos­i­tively.

Sea­son­ally ad­justed min­ing pro­duc­tion de­creased by 2.6 per cent in the three-month pe­riod end­ing May 2018 com­pared with the pre­vi­ous three months, with eight out of the 12 min­er­als and min­eral groups show­ing neg­a­tive growth.

The fig­ures come days af­ter the Min­er­als Coun­cil of South Africa said that three-quar­ters of the coun­try’s gold mines had be­come un­prof­itable.

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