Mining production surges in August

JOHANNESBURG – Mining production in South Africa increased 6.90% year-on-year in August, surpassing market consensus of a modest 0.1% gain supported by a surge in global commodity prices in the period.

The surge in production was underpinned by strong performance in which surged 7.7 percent in August compared to 5.8 percent recorded in July.

Diamonds production inched up 27.7% in August compared to 16.6% in the previous month, while iron ore which rebounded 9 percent compared to a decline of 5% in the prior month. On a monthly basis, gold mining output went up 5.3%.

John Ashbourne, an Africa …read more

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