News Leader
WATCH: What the latest mining production figures mean
Mining production has fallen more than expected in August slumping 9.1% after a decline of 5.2% in July. The largest negative contributor are iron ore, which fell nearly 20%; gold, which was down almost 20%; and platinum group metals, which dropped 7%. On a brighter note, mineral sales increased by 4.3% in August due to manganese ore, coal and other metallic mineral sales. The new Mining Charter was gazetted in September and the jury is still out on its ability to lure investments to turn the sector around. Wikus Botha, African mining and metals leader at EY, joined Business Day TV to discuss what the latest figures suggest for the industry.
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