SA’s mining production has pushed back into positive growth territory, breaking 11 months in a row of contraction. The sector has also made a significant contribution to overall GDP growth for the second quarter in a row — something which it had not been able to in the past 18 months. Mining production increased 3.4% year on year in September from an upwardly revised 0.1% in August (previously -0.2% year on year). The mining sector’s underperformance in 2016 has been blamed on rising operating costs, weaker commodity demand from China and low commodity prices. But the improved trade performance of precious metals, along with better commodity prices, has helped lift the sector’s output. The main contributors to the revival were the platinum group metals, which grew 10.5% year on year, iron ore which grew 11.7% year on year, and coal by 6.8% year on year. Gold production growth remained in the red, however, falling 7% year on year in September from August’s 8.4% contraction. BNP Parib...
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