The state of flux in the South African mining industry is reflected in the 8,7% year-on-year drop in production reported for February 2016.
Negative growth rates
According to the recently published Statistics South Africa report, the largest negative growth rates were iron ore (-32,5%), building materials (-19,7%), manganese ore (-18,9%) and platinum group metals (PGMs) (-18,1%).
The main negative contributors to the 8,7% decrease were iron ore (contributing -6,8 percentage points), PGMs (contributing -2,2 percentage points) and manganese ore (contributing -1,4 percentage points).
Gold held its own and was a significant positive contributor (contributing 1,8 percentage points).
Seasonally adjusted production
Seasonally adjusted mining production increased by 1,3% in February 2016 compared with January 2016. This followed month-on-month changes of -5,1% in January 2016 and -0,8% in December 2015.
Seasonally adjusted mining production decreased by 2,2% in the three months ended February 2016 compared with the previous three months.
Mineral sales
Three minerals with significant positive contributions in mineral sales were gold at 31,3% and contributing 4,1 percentage points, PGMs at 12,4% and contributing 2,3 percentage points and other non-metallic minerals at 45,2% and contributing 2,1 percentage points.
Seasonally adjusted mineral sales at current prices decreased by 3,9% in January 2016 compared with December 2015. This followed month-on-month changes of 2,7% in December 2015 and -2,1% in November 2015.
