SA YoY mining production disappoints in August
Market expectations of a six percent growth for mining production were disappointed as mining production eased to two percent year-on-year in August 2021, from a 12.3% year-on-year gain in the previous month.
Positives and Negatives
The largest positive contributors were gold, iron ore and Platinum Group Metals (PGMs).
In contrast, the main negative contribution came from the production of coal.
Year-to-date mining production increased by 16.9% relative to the same period last year, and one percent compared to the same period in 2019.
The ongoing load shedding and elevated input costs could negatively impact the sector in the fourth quarter.