According to data released by Statistics South Africa (StatsSA), mining production increased by 2.5% year-on-year in March, slower than February’s revised 9.7% surge and below market forecasts of a 4.1% rise.
South Africa’s mining sector lost momentum in March as production growth came in below market expectations, highlighting growing pressure on the industry from weaker global demand, rising input costs and persistent operational challenges.
According to data released by Statistics South Africa (StatsSA), mining production increased by 2.5% year-on-year in March, slower than February’s revised 9.7% surge and below market forecasts of a 4.1% rise.
The latest reading marked the weakest expansion in four months and reflected softer activity across several key mineral categories, including platinum group metals (PGMs), manganese ore and nickel.
Jean-Pierre Terblanche, principal service statistician at StatsSA, said the latest figures conclude mining performance for the first quarter of the year, which showed only modest growth overall.
