Mines coin it in commodities boom

Miners busy with operations during their shift. AFP/Mujahid Safodien

JOHANNESBURG - One part of the local economy is surging at the moment.

The mining sector has seen sales jump almost 47-percent year-on-year in March to R75-billion.

Statistics SA says the numbers were boosted by record commodity prices and expectations that the world economy will grow faster than expected.

Platinum-group metal sales contributed most to the windfall, surging 76 percent.

Mining employs more than 450,000 people in South Africa and contributes about 8 percent to GDP.

The increased sales have helped strengthen the rand.

Source
eNCA

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