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BUSINESS MAVERICK: South African mining output rises in February after 12 consecutive months of contraction

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A green shoot has appeared in South Africa’s mining sector. Mining production rose 0.8% year on year in February, the first month since February 2020 in which it has not declined. The catch is that the number could still be revised up or down in the coming months.

The data was unveiled on Tuesday by Statistics South Africa , and it has to be said that it is not set in stone. The monthly mining data is often revised after its original publication.

The one bright spot has been sales data from the sector, which has been consistently lifted of late by surging prices. Minerals sales in February rose a robust 26%, a trend that has been in place for months.

 

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