Coal sector was hardest hit in 2023, Minerals Council says
But the Council says it is ‘cautiously optimistic’ about 2024
The Minerals Council SA, a lobby group for the mining industry, reported a fall in mining production in 2023 to R1.1-trillion from the high of R1.2-trillion a year earlier, as weaker commodity prices and logistics constraints curtailed exports.
Presenting its fact and figures for 2023 on the sidelines of the Investing in African Mining Indaba in Cape Town, the council said based on current prices, the mining industry's direct contribution to GDP fell to R425.6bn from R483.3bn a year earlier. That translated to a 6.2% contribution to GDP, down from 7.3% in 2022...
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