South Africa Mining Production y/y

Mining Production y/y is an indicator of a change in mining production volumes in the current month compared to the same month a year ago. Mining statistics covers production of gold, diamonds, iron ore, platinum and other minerals. Year-over-year estimation of production change enables the assessment of long-term mining trends.

Every month Statistics South Africa publishes mining and sales indices based on data provided by the Department of Mineral Resources. To obtain information on mining, the Department polls mining and mineral processing companies registered in South Africa.

The mining production index is calculated against the reference year 2015 and the reference value of 100. Mineral groups are assigned weights based on their contribution to the country's GDP. Thus, the weight reflects the importance of a particular group for the entire mining industry. The share of different minerals changes over time and weights are reviewed annually.

The mining industry makes a considerable contribution to the South Africa's GDP and is an important source of employment. The received data is used to estimate GDP and its components, which, in turn, are used to monitor government policy. Mining production growth is favorable for the national economy and can be seen as positive for the South African rand.