South Africa’s Mining Industry Grows 9.9% in February

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South Africa’s mining sector recorded a significant increase in output in February 2024, with production rising by 9.9% year-on-year compared to February 2023, according to data from Statistics South Africa (Stats SA).

Iron ore led the growth surge, with production spiking by 42.9%, contributing 5.1 percentage points to the overall increase. Coal, the country’s primary source of energy generation, also saw a healthy rise of 14.6%, adding 3.7 percentage points. Chrome ore production followed suit with a 20.6% increase, contributing 1 percentage point, Prensa Latina, a partner of TV BRICS reported.

Looking at month-on-month changes, seasonally adjusted mining output in February was 5% higher than January 2024. This positive trend follows a more modest month-on-month change of 0.4% in January and a decline of 4% in December 2023.

The robust performance in February suggests a potential rebound for South Africa’s mining industry, a crucial sector for the country’s economy.

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