South Africa mining sector outlook worsens
Business Live reports the outlook for the South African mining sector has worsened in recent weeks, economists from Nedbank said on Thursday.
According to Statistics SA, growth in mining production slowed to 9.6% year on year (y/y) in May from 12.0% y/y in April. Gold output fell by 5.8 % y/y and was down by a seasonally adjusted 3.6% month on month (m/m), while non-gold output was dragged down by declines in platinum group metals, which declined 9.9% m/m, and coal, which was 6.3% lower m/m.
