Mining production in South Africa fell 3.1 percent year-on-year in November 2019, following a downwardly revised 2.1 percent decline in the previous month and compared with market expectations of a 1.25 percent decrease. It was the largest decline in mining production in nine months, as output dropped further for coal (-2.8 percent vs -0.6 percent in October); PGM’s (-13.5 percent vs -6.2 percent); building materials (-13 percent vs -9.5 percent); and nickel (-14.9 percent vs -0.5 percent). Also, production of iron ore dropped 7.5 percent, after rising 11.1 percent in October. Additionally, output growth slowed for other metallic minerals (14.3 percent vs 35 percent) and other non-metallic minerals (20.5 percent vs 30.4 percent). Meanwhile, gold production rebounded (5.2 percent vs -1.4 percent). On a monthly basis, mining output went down 3.5 percent, after increasing an upwardly revised 1.7 percent gain in the prior month. Mining Production in South Africa averaged -0.09 percent from 1981 until 2019, reaching an all time high of 23.20 percent in October of 2013 and a record low of -17.40 percent in March of 2016. source: Statistics South Africa
Mining Production in South Africa is expected to be -1.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Mining Production in South Africa to stand at 1.10 in 12 months time. In the long-term, the South Africa Mining Production is projected to trend around 1.40 percent in 2020, according to our econometric models.