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Mining production remains depressed in April, but mineral sales increase

By: Tasneem Bulbulia     13th June 2019 Mining production decreased by 1.5% year-on-year in April, Statistics South Africa (Stats SA) data revealed on Thursday. The largest negative contributors were gold, at -19.5%, and contributing -2.7 percentage points; iron ore, at -11.9%, and contributing -1.7 percentage points; and chromium ore,... 

March manufacturing output better than expected 

By: Mariaan Webb     9th May 2019 South Africa’s manufacturing output is continuing on a positive trend, with March output increasing by 1.2% year-on-year, beating market expectations of a contraction of 0.2%. The largest positive contributions were made by energy-intensive industries, which commentators say is surprising, given... 

ANC wants banks to be forced to fund South African coal mines  

By: Bloomberg     6th May 2019 South Africa’s banks should be forced to invest in new coal mines in the country, the ruling African National Congress’s head of economic transformation said. Nedbank Group and Standard Bank Group have said “they are not going to put money in coal any more,” Enoch Godongwana said in an interview... 

Namibia commits to rand peg as economy limps out of recession

By: Bloomberg     8th April 2019 Namibia is ruling out dropping its currency peg with the South African rand “unless something very drastic happens", given the close trade links to its larger neighbour and the drive by the world’s biggest producer of marine diamonds to recover from a two-year recession. “We have to consider all... 

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