Mining production down

File: Mining production was down 0.9 percent in September, compared to the same period last year. Photo: Gallo Images / City Press / Elizabeth Sejake

JOHANNESBURG - Mining production was down 0.9 percent in September, compared to the same period last year.

The decline was led by platinum group metals, at minus 8.3 percent, followed by iron ore which dropped 7.5 percent.

Both contributed a negative 3.1 percentage points to September's number.

This is the first such decline in months, largely as a result of the spike in total volumes in August.

A recovery in the global economy as well as policy uncertainty in South Africa, have impacted on today’s numbers.

Seasonally-adjusted mining production has increased by 2 percent on a quarterly basis.

This means the sector is likely to contribute positively to third quarter GDP.

eNCA

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