South Africa's mining production fell 12.7 per cent year on year in August, the largest annual decline since October 2022, Statistics South Africa reported on Wednesday.
Platinum group metals led the slide, contracting 22.5 per cent and contributing the largest drag on the headline figure. Coal output fell 11.7 per cent and iron ore fell 16.2 per cent. On a seasonally adjusted basis, production was down 5.4 per cent month on month and 5.2 per cent across the three months to August.
Mineral sales at current prices fell 15.1 per cent year on year, led by gold, iron ore, platinum group metals and coal — a combination that squeezes both export earnings and the royalties the sector pays into public finances.
Separately, the Minerals Council told Reuters that South African miners are reviewing safety performance after 53 deaths were recorded as of October 12, a toll already above the full-year lows of the previous two years.
