Johannesburg, South Africa — MININGREVIEW.COM — 09 October 2009 – South African mining production showed a 2.6% increase in the three months to 31 August 2009, while the estimated total value of minerals sales at current prices showed a substantial decrease of 32.5%
The latest rise of 2.6% in mining production was the fourth consecutive quarter-on-quarter increase since April 2009.
The latest mining production figures released by Statistics South Africa showed that platinum group metal (PGM) production had been the main contributor (1.7 percentage points). Seasonally adjusted mining production had decreased by 5.8% month-on-month in August 2009. Again, PGM production was the main contributor (-4.3 percentage points).
The figures showed that total mining production for the three months to 31August 2009 had decreased by 4.5% compared with the three months ended August 2008. Mining production for August 2009 had dropped 11.5% compared with August 2008, reflected by a 12.7% decrease in the production of non-gold minerals and a 2.9% decrease in the production of gold.
Statistics South Africa went on to reveal that the total seasonally adjusted value of mineral sales at current prices for the three months ended 31 July 2009 had reflected a decrease of 11.3% compared with the previous three months. This decrease of R6 984.3 million) was a result of a fall of 12.8% (-R1 692.1 million) in the sale of gold, and a drop of 10.9% (-R5 292.2 million) in the sale of non-gold minerals.
The actual estimated total value of mineral sales at current prices for the three months ended 31 July 2009 decreased by 32.5% compared with the three months ended July 2008. The major contributors to this decrease were PGMs (-17.8 percentage points or -R14 951.4 million), coal (-5.8 percentage points or -R4 898.5 million), and manganese ore (-5.1 percentage points or -R4 297.0 million). Iron ore sales contributed positively (2.1 percentage points or R1 785.0 million).