Share

SA mining output rises for first time in 9 months

South African mining output increased for the first time in nine months in July as coal and iron ore production surged.

Mining production rose 2.4% from a year earlier compared with a revised 4.1% decline in June, Pretoria-based Statistics South Africa said in a report on its website Thursday. The median estimate of five economists in a Bloomberg survey was for a 1% increase.

Key insights

  • Iron ore was the big driver of the swing in mining output after its production surged by 23.7%. Coal, which is the biggest contributor to total mining, rose 8.6% in July and platinum-group metals, the second-largest mineral group, rose 2.7%.
  • Gold production continues to lag the rest of the industry and declined 13.1%, the 22nd consecutive month of contraction. Gold mining in South Africa, which has lost its status as the continent’s biggest producer of the metal to Ghana, is becoming less lucrative as it costs more to extract from deeper ore bodies. A 39.1% drop in diamond production also weighed on the sector.

- With assistance from Simbarashe Gumbo.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.93
-0.0%
Rand - Pound
23.90
+0.0%
Rand - Euro
20.40
+0.1%
Rand - Aus dollar
12.32
+0.1%
Rand - Yen
0.13
+0.0%
Platinum
908.05
+1.2%
Palladium
1,014.94
+1.3%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders