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(Wallace Refiners) – The Department of Statistics of South Africa announced yesterday that the domestic mining production increased by 21.3% year-on-year in March 2021.
According to the statement, the largest positive contributors were platinum group metals (68.6% increase, contributing 11.6 percentage points), iron ore (47.9% increase, contributing 4.1 percentage points), manganese ore (29.9%, contributing 2.4 percentage points), and gold (10.5% increase, contributing 1.5 percentage points).
Seasonally adjusted mining production increased by 4.5% in March 2021 compared with February 2021. This followed month-on-month changes of 0.9% in February 2021 and 4.2% in January 2021.
Seasonally adjusted mining production increased by 3.8% in the first quarter of 2021 compared with the fourth quarter of 2020. The largest positive contributors were PGMs (21.5%, contributing 4.3 percentage points) and iron ore (17.0%, contributing 1.7 percentage points).
Mineral sales increased by 46.9% year-on-year in March 2021. The largest contributors were PGMs (76.0%, contributing 26.1 percentage points), gold (61.3%, contributing 7.2 percentage points), iron ore (48.3%, contributing 6.9 percentage points), and “other” non-metallic minerals (72.0%, contributing 2.2 percentage points).
Seasonally adjusted mineral sales at current prices increased by 15.7% in March 2021 compared with February 2021. This followed month-on-month changes of -9.5% in February 2021 and 31.9% in January 2021.
In the first quarter of 2021, the seasonally adjusted value of mineral sales at current prices was 22.3% higher compared with the fourth quarter of 2020.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Wallace Precious Metals The author has made every effort to ensure accuracy of information provided; however, neither Wallace Precious Metals nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Wallace Precious Metals and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
