Gold production in South Africa fell by 8.4% year-on-year in December 2024, continuing a 14-month decline but at a reduced rate compared to previous months. This trend hindered the overall mining production change by 1.1 percentage points. However, a 0.7% increase in seasonally adjusted gold production was observed in December.
In December 2024, South Africa’s gold production experienced an 8.4% decrease year-on-year, showing a slight improvement over the 11.5% decline recorded in November. This downturn signifies the 14th straight month of reduced gold output, although the pace of decline has softened. The ongoing reduction in gold production has detrimentally influenced the overall mining sector, lowering the year-on-year production volume by 1.1 percentage points. Despite these issues, a seasonally adjusted measure for December indicated a modest rebound in gold output, with a 0.7% increase from the previous month.
The continued decrease in South Africa’s gold production reflects ongoing challenges within the mining industry. While the drop decreased in severity from prior months, the long-term trend remains one of caution. The slight recovery on a seasonally adjusted basis offers some optimism, but the overall impact on the mining sector’s production volume is concerning.
Original Source: www.tradingview.com
