South Africa's mining sector contracts 7.8% in May as gold production down 28%

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South Africa's mining sector contracts 7.8% in May as gold production down 28% kitconews gold silver economics investing finance metals mining

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- According to Statistics South Africa , the domestic mining production decreased by 7.8% year-on-year in May 2022.The agency added that the seasonally adjusted mining production in South Africa increased by 0.7% in May 2022 compared with April 2022. This followed month-on-month changes of -3.6% in April 2022 and 3.0% in March 2022.

According to the report, the country’s seasonally adjusted mining production decreased by 1.3% in the three months ended May 2022 compared with the previous three months, mainly due to the lower production of gold and manganese ore.

 

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