HomeBase MetalsMineral sales show sharp increase

Mineral sales show sharp increase

Platinum jewellery
– mineral sales up
almost 50%
Johannesburg, South Africa — MININGREVIEW.COM — 11 December 2008 – The total seasonally adjusted value of South African mineral sales at current prices for the third quarter of 2008 rose almost 50% above those for the corresponding three months of 2007.

Releasing latest production figures here, Statistics South Africa revealed that the major contributors to the year-on-year increase of 47.6% were  coal  (150  percentage  points  or  R8 242.9  million),  PGMs  (11.5  percentage  points  or  R6 335.6  million)  and manganese ore (9.9 percentage points or R5 435.3 million).

The release added that total  seasonally  adjusted  value  of  mineral  sales  at  current  prices  for  the  third  quarter  of  2008 had reflected  a decrease  of  1.1%,  compared  with  the  second  quarter  of  2008.  This decrease of R862.4 million could be attributed to a decrease of 9.7%, or R1 132.1 million, in gold sales.

Statistics South Africa added that total  mining  production  for  the  three  months  ended  31October  2008,  after  seasonal  adjustment,  had increased  by 4.9%  compared  to  the  previous  three  months.  The main contributors had been PGMs  (8.0 percentage points), iron ore (0.3 of a percentage point) and nickel (0.2 of a percentage point). However, compared to the same three months of 2007, total mining production for the three months ended 31October 2008 had decreased by 2.4%. Actual total mining production for October 2008 rose by 3.5% compared with October 2007, largely attributable to an increase of 6.5% in non-gold mineral production.