Precious metal mining shows decline in December

Statistics South Africa has released the mining sector’s production data for December, with production in the gold mining sector declining by 3.3% year-on-year, compared with a decline of 4.6% in November.

Production in the platinum group metals sector declined by 5%, while total mining output declined by 3.5% year-on-year in December, compared with a revised decline of 9.2% in November.

In a statement, StatsSA says the total mining production contracted by 7.2% in 2022 compared with 2021. This followed an increase of 11.6% in 2021 and a decrease of 10.4% in 2020.

“Seasonally adjusted mining production increased by 1.2% in December compared with November. This followed month-on-month changes of -0.8% in November and -2.9% in October.”

Mineral sales at current prices increased by 0,1% year-on-year in December and the largest positive contributors were coal and chromium ore.

Total mineral sales were 2.8% higher in 2022 compared with 2021. This followed increases of 39.7% in 2021 and 10.9% in 2020.

DOCUMENT: Mining: Production and sales, December 2022: