Mining production down 0.4% y-o-y in November - CNBC Africa

Mining production down 0.4% y-o-y in November


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One of the main contributors to the 0.4 per cent decrease was coal, contributing -1.0 percentage point. PHOTO: Wikipedia

The survey, which is based on information furnished by the Department of Mineral Resources, further indicated that the largest negative growth rates were recorded for PGMs at -14.3 per cent, diamonds at -14.2 per cent, gold at -10.1 per cent and copper at-10.1 per cent.

“The main contributors to the 0.4 per cent decrease were PGMs, contributing -3.3 percentage points, gold, contributing -1.6 percentage points and coal, contributing -1.0 percentage point,” Stats SA said.

(READ MORE: Mining production drops 10.1% in August)

“Iron ore was a significant positive contributor, contributing 3.5 percentage points.”

The statistics agency also stated  that seasonally adjusted mining production decreased by 1.2 per cent in November 2014 compared with October 2014.

“Seasonally adjusted mining production increased by 6.2 per cent in the three months ended November 2014 compared with the previous three months,” it added.

“The main contributor to the 6.2 per cent increase was PGMs, contributing 4.7 percentage points.”

Mineral sales decreased by 3.2 per cent year-on-year in October 2014, with the largest negative growth rates being recorded for iron ore, copper and coal.

(READ MORE: S.Africa considers declaring certain minerals as “strategic”)

“The major contributors to the 3.2 per cent decrease were coal, contributing -3.2 percentage points, iron ore, contributing -2.4 percentage points, PGMs, contributing -1.6 percentage points and gold, contributing -1.0 percentage point,” said the statistics agency.

“Seasonally adjusted mineral sales at current prices were flat in October 2014 compared with September 2014. This followed month-on-month changes of 5.7 per cent in September 2014 and -0.4 per cent in August 2014.”