According to Stats SA, Mining production decreased by 6,5% year-on-year in May 2014. The largest negative growth rates were recorded for Platinum Group Metals (PGMs) (-48,5%), ‘other’ non-metallic minerals (-13,3%) and building materials (-11,7%). The main contributor to the 6,5% decrease was PGMs (contributing -10,4 percentage points). Iron ore was a significant positive contributor (contributing 3,1 percentage points).
The crippling strike action that began on the 23rd of January 2014 in the platinum sector had a negative impact on total mining production. For the first five months of 2014 total mining output contracted by 1,9% compared with the first five months of 2013.
The largestcontributor to the 1,9% decrease was PGMs (contributing -6,1 percentage points). On the upside iron ore and manganese ore showed noteworthy growth and contributed 2,0 and 1,4 percentage points in the same period. Basic iron and steel manufactured products increased by 5,9% in the first 5 months of 2014 compared with the same period of 2013.
Seasonally adjusted mining production decreased by 3,1% in May 2014 compared with April 2014. This followed month-on-month changes of 6,3% in April 2014 and -1,5% in March 2014. In the three months ended May 2014 compared with the previous three months, seasonally adjusted mining production decreased by 5,6%. The main contributor to this decrease was PGMs (contributing -7,2 percentage points).
