Mining production contracted for the second consecutive month year-on-year.
Figures released by Statistics South Africa (Stats SA) show that mining production fell 4.3% in April after recording an 8.5% fall in March.
The largest negative contributors to the decline were platinum group metals (PGMs), followed by metallic minerals and diamond production.
Jean Pierre Terblanche from Stats SA elaborates:
“The drop was largely as a result of decreased production of PGM metals that fell by 6.5%. This is also a fifth consecutive month of a year on year decline of platinum production. Gold experienced its seventh month of year on year production decline, falling by 5.7% in April. In fact, most minerals experienced year on year production decline in April. Only chrome showed a slight increase in production.”
Seasonally adjusted mining production decreased by 2.0% in April 2018 compared with March 2018.
This followed month-on-month changes of -3.5% in March 2018 and 0.2% in February 2018.