The mining industry in South Africa continued to face bleak prospects after output plunged more than expected in April, signalling the continued sinking of the productive sectors of the economy. According to data from Statistics South Africa (Stats SA) on Thursday, mining production slipped by 7.7% year on year in April following a revised 2.5% decline in March.
This April reading was more than an expected 4.3% decline and pointed to the sixth consecutive month of downturn in the country’s sector.Jean-Pierre Terblanche, principal service statistician at Stats SA, said the decline was led by a fall in the production of platinum group metals (PGM) which contracted by 24.1% from a decline of 9.9% in March.
“Nickel, copper, gold and coal also performed poorly in April,” Terblanche said.“On the upside, diamonds, iron ore, chromium ore and manganese ore recorded positive gains, but not enough to lift the mining industry into positive territory.”
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