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(Kitco News) – According to Statistics South Africa (StatsSA), the domestic mining production decreased by 8.4% year-on-year in July 2022.
StatsSA said that largest negative contributors were gold (a decline of 19.7%, contributing -3.1 percentage points); platinum group metals (-12.2%, contributing -2.8 percentage points); and iron ore (-20.4%, contributing -2.7 percentage points).
The agency added that the seasonally adjusted mining production in South Africa increased by 2.3% in July 2022 compared with June 2022. This followed month-on-month changes of -0.9% in June 2022 and 1.8% in May 2022.
According to the report, the country’s seasonally adjusted mining production increased by 0.2% in the three months ended July 2022 compared with the previous three months, mainly due to the higher production of platinum group metals, which was partially offset by lower production of diamonds.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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