According to Statistics South Africa (StatsSA), the domestic mining production decreased by 1.1% year-on-year in December 2021.
StatsSA said that the largest negative contributors were gold (-15.3%, contributing -2.4 percentage points); coal (-8.1%, contributing -1.9 percentage points); manganese ore (-10.8%, contributing -1.1 percentage points); and iron ore (-7.4%, contributing -1.0 percentage point).
The agency added that production of PGMs (24.4%, contributing 5.3 percentage points) was a significant positive contributor.
Importantly, according to the report, the total mining production in South Africa in 2021 was 11.2% higher compared with 2020. The 11.2% increase in annual mining production followed a decrease of 10.6% in 2020 and a decrease of 1.0% in 2019.
StatsSA also noted that total mineral sales were 39.1% higher in 2021 compared with 2020. The 39.1% increase in annual mineral sales followed increases of 10.1% in 2020 and 10.8% in 2019.
Source: Kitco News