Key findings by Statistics South Africa (Stats SA) regarding mineral sales indicate that mineral sales decreased by 14.5% year-on-year in January 2015, despite an increase in mining production by 7.5% year-on-year recorded in the following month for February 2015.

Statistics SA Key findings regarding mining production for February 2015

Mining production increased by 7,5% year-on-year in February, with the highest positive growth rates recorded for PGMs (26,7%), iron ore (22,6%) and manganese ore (16,8%). The main contributors to the 7,5% increase were iron ore (contributing 4,2 percentage points), PGMs (contributing 2,8 percentage points) and manganese ore (contributing 1,1 percentage points). Gold was a significant negative contributor (contributing -1,5 percentage points).

Seasonally adjusted mining production increased by 3,8% in February 2015 compared with January 2015. This followed month-on-month changes of -3,5% in January 2015 and 0,7% in December 2014.

Seasonally adjusted mining production decreased by 1,3% in the three months ended February 2015 compared with the previous three months. The main contributor to the 1,3% decrease was gold (contributing -1,0 percentage point).

Key findings regarding mineral sales for January 2015

Mineral sales decreased by 14,5% year-on-year in January 2015. The largest negative growth rates were recorded for PGMs (-29,1%), ‘other’ non-metallic minerals (-27,5%), copper (-26,3%) and ‘other’ metallic minerals (-25,7%). The major contributors to the 14,5% decrease were PGMs (contributing -6,8 percentage points), iron ore (contributing -2,9 percentage points) and gold (contributing -1,7 percentage points).

Seasonally adjusted mineral sales at current prices decreased by 5,1% in January 2015 compared with December 2014. This followed month-on-month changes of 1,1% in December 2014 and -4,5% in November 2014.