OTHER

SA mining production down 10.7% in 2020

South Africa’s 2020 mining production was 10.7% lower than in 2019 but was up 0.1% year-on-year in December.

Staff reporter
 PGM producer Sibanye-Stillwater is among the miners tipping bumper earnings

PGM producer Sibanye-Stillwater is among the miners tipping bumper earnings

The latest figures from Statistics South Africa are slightly above the impact industry body Minerals Council South Africa had predicted for 2020, of an 8-10% hit on production due to COVID-19 and the subsequent nationwide lockdown.

The figures showed a continuing annual decline in the country's mining production, with the 10.7% slump in 2020 following a 0.5% decrease in 2019 and a 1.5% drop in 2018.

The slight rise in December mining production, year-on-year, is likely due to mines being hobbled 12 months earlier due to unprecedented power outages.

Mineral sales were up 23.8% year-on-year in December.

Stats SA said the largest positive contributor was iron ore, up 59% and contributing 8.2 percentage points, followed by platinum group metals up 24.6% and 7.4 respectively.

The seasonally-adjusted value of mineral sales at current prices for the fourth quarter was 4.1% higher than for the third quarter.

South Africa-based PGM and gold producers have flagged the prospect of bumper earnings despite the impact of COVID-19, thanks to higher commodity prices and a weaker rand.

The JSE requires companies to provide a market update if financial results are likely to differ by at least 20% from the previous corresponding reporting period.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.