StatsSA: Mining sector contracts 9% in November as PGM and iron ore production down

Statistics South Africa (StatsSA) has said the domestic mining production decreased by 9.0% year-on-year in November 2022.

StatsSA said that largest negative contributors were platinum group metals (down 22.0%, contributing -5.9 percentage points); iron ore (down 19.4%, contributing -2.1 percentage points); and diamonds (down 21.5%, contributing -1.0 percentage point).

The agency added that seasonally adjusted mining production in South Africa decreased by 0.4% in November 2022 compared with October 2022. This followed month-on-month changes of -3.0% in October 2022 and -0.3% in September 2022.

According to the report, the country’s seasonally adjusted mining production decreased by 1.9% in the three months ended November 2022 compared with the previous three months.