May mining output falters on uncertain commodity prices

July 13, 2017

Responsive image

Mining production data released by Statistics South Africa on Thursday revealed a second consecutive month of production contraction. The -0.2% contraction in April and the -1.4% contraction in March are viewed as concerning by Chamber of Mines of South Africa chief economist Henk Langenhoven, owing to their erosion of the 5% production improvement of the first five months of this year. Production is now stuck at 2016 levels, which were 5% down on 2015, with the decline largely attributable to a combination of commodity price uncertainty and a nigh-17% stronger rand.

Category: General