Mining sector’s woes deepen as production contracts for a sixth consecutive month
However, mining production lifting 4.2% month-on-month in March has some economists saying the second quarter is expected to see an improvement
Mining production contracted 1.5% year-on-year in April, extending the sector’s fall to a sixth consecutive month.
Gold production in April fell by almost 19.7% year-on-year, data from Stats SA showed on Thursday, while mining production fell 2.3% in April compared with March. The latter figure is almost five times the 0.5% contraction expected in the Bloomberg consensus.