Mining output surges 5.8% in October, driven by iron ore and PGMs

The mining industry continued its winning streak in October after recording a significant jump in production.

Mining output surged by 5.8% year-on-year in October, following a revised increase of 1.4% in September. Iron ore and platinum group metals (PGMs) drove the upward momentum.

Principal Survey Statistician at Stats SA, Juan-Pierre Terblanche, highlighted the key contributors:

"Iron ore was the most significant positive contributor in October, expanding by 24.8% and contributing 2.9% to overall growth. Nickel, manganese ore, chromium ore, and platinum group metals also posted positive results."

However, Terblanche noted that the industry produced less diamonds, copper, gold, and coal.

Regarding monthly performance, Terblanche added: "On a month-on-month basis, seasonally-adjusted mining production increased by 2.1% in October, following a rise of 2.6% in September."