Statistics released today by the South African government show that mining production is at its lowest level since 2000.
Stats SA's mining index was 7.5% lower in 2008 compared with 2007 and follows a decrease of 0.9% in 2007 and 1.5% in 2006.
Platinum group metals (PGMs) fell by 3.8 percentage points, gold by 2.2 percentage points and diamonds by 1.7 percentage points.
Iron ore production increased by 0.6 percentage points, an increase of 17.0% in 2008.
Total mining production for the fourth quarter of 2008, after seasonal adjustment, increased by 1.2% compared with the third quarter. The major contributor to this increase was PGMs with 5.5 percentage points. Diamond production counteracted the seasonally-adjusted growth with a negative contribution of 2.2 percentage points.
Source: Stats South Africa
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