South Africa's mining sector contracts by 7.2% in 2022 - report SouthAfrica
- According to Statistics South Africa , the domestic mining production decreased by 3.5% year-on-year in December 2022.
StatsSA said that largest negative contributors were iron ore ; diamonds ; and platinum group metals . The agency added that total mining production in South Africa contracted by 7.2% in 2022 compared with 2021. The 7.2% contraction in annual mining production followed an increase of 11.6% in 2021 and a decrease of 10.4% in 2020.
The country’s seasonally adjusted mining production increased by 1.2% in December 2022 compared with November 2022. This followed month-on-month changes of -0.8% in November 2022 and -2.9% in October 2022. Seasonally adjusted mining production in South Africa decreased by 3.4% in the fourth quarter of 2022 compared with the third quarter of 2022, primarily due to lower production of diamonds, iron ore, and platinum group metals.
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