HomeBase MetalsFirst quarter mining production drops 12.8%

First quarter mining production drops 12.8%

A typical South
African gold mine
 
Pretoria, South Africa — MININGREVIEW.COM — 15 May 2009 – Total mining production during the first quarter of 2009 in South Africa – the world’s biggest producer of platinum and third-biggest gold producer – decreased by 12.8%, after seasonal adjustment, compared to the previous quarter.

The latest mining production figures released by Statistics South Africa showed that the main contributors to the 12.8% decrease were the platinum group metals (-6.9 percentage points) and diamonds (-3.9 percentage points). As compared to the first quarter of 2008, total mining production for the first quarter of this year declined by 9.4%.

Actual total mining production for March 2009 decreased by 4.6% compared to March last year, reflected by gold and non-gold mineral production dropping by 7.6% and 4.1% respectively.

Statistics South Africa went on to reveal that the total seasonally adjusted value of mineral sales at current prices for the three months ended February 2009 had reflected a decrease of 20% compared to the previous three months. This decline of 20.0% (R15 102.7 million) had resulted from a decrease of 23.6% (R14 976.0 million) in the sale of non-gold minerals, and a fall of 1.0% (R126.7 million) in the sale of gold.

The actual estimated total value of mineral sales at current prices for the three months ended February 2009 had decreased by 6.7%, compared with the three months ended February 2008. The major contributors to this decrease of 6.7%, year-on-year, had been PGMs (16.1 percentage points or R9 821.7 million), other non-metallic minerals (-2.4 percentage points or R1 473.5 million) and nickel (-2.0 percentage points or R1 201.9 million).  

The three minerals that made substantial positive contributions to the change were coal (5.9 percentage points or R3.583.3 million), iron ore (5.2 percentage points or R3121.7 million), and gold (4.4 percentage points or R2 641.0).

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