South African mining production surges 6.9% in August, exceeds expectations
JOHANNESBURG – Mining production in South Africa increased by 6.9% year-on-year in August whilst seasonally adjusted mining production increased by 5.3% in the same month compared with July, Statistics South Africa (StatsSA) said on Thursday.
StatsSA said the biggest contributors to the jump in production were iron-ore, diamonds and gold, adding 1.3 percentage points, 1.2 percentage points and 1.1 percentage points respectively. Iron-ore production increased 9%, diamonds 27.7% and gold 7.7%.
StatsSA said mineral sales increased by 17.7% year-on-year in July.
The main positive contributors were coal with a 36.3% increase, manganese ore increasing 116.9%, a 59.8% increase in chromium ore, and ‘other’ metallic minerals increasing 106.2%.
Jason Muscat, senior economic analyst at FNB, said production surged with all components of the index, apart from copper and building materials, registering gains, contrary to our expectation of a small contraction in August mining output.
“While the global environment remains supportive of both commodity prices and output, the August print far exceeded our expectations, and puts the sector on course to make a significant positive contribution to the 2017 third quarter GDP,” Muscat said.
“The domestic environment, however, remains less certain with regard to policy and the relationship between the industry and the mining ministry. For this reason, we will await further data before considering upwardly revising our full year forecast for the sector.”
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Design, Construction and Maintenance of Site Erected, Welded Bulk Storage Tanks for the Petrochemical, LNG, Ammonia and Sustainable fuel Sectors.
VISIT SHOWROOM
We at Hawk High Pressure Pumps specialise in industrial pumps and pumping systems. Our high pressure washing equipment is locally manufactured and...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
