Mining Focus Africa

Top Menu

  • Subscribe
  • Minerals
  • Projects
  • Machinery
  • Video’s
  • Advertise
  • Magazine
  • Directory

Main Menu

  • Home
  • International News
  • Local News
  • Events
  • Business
  • Energy
  • Technology
  • Contact Us
Sign in / Join

Login

Welcome! Login in to your account
Lost your password?

Lost Password

Back to login
  • Subscribe
  • Minerals
  • Projects
  • Machinery
  • Video’s
  • Advertise
  • Magazine
  • Directory

logo

Header Banner

Mining Focus Africa

  • Home
  • International News
  • Local News
  • Events
  • Business
  • Energy
  • Technology
  • Contact Us
  • SRK’s decade in DRC evolves to local ownership

  • BIA Group to supply Furukawa & RTDrill brands across Central and West Africa for Euroforgroup

  • Mozambique the next frontier in graphite production

  • BASE Resources passes important resource milestones in Kenya

  • Cable, components and critical space exploration

  • Africa’s edge in the green mineral economy

  • Keeping the faith in EA public participation processes during Covid-19

  • Ivanplats seeks $420m financing to develop South Africa’s Platreef mine

  • Transforming the Logistics Operations of the African Mining Industry

  • Mining Indaba insights: Mines push on as South Africa plays catch-up

Local News
Home›Local News›Mining slumps as South Africa’s recession deepens

Mining slumps as South Africa’s recession deepens

By Micheal van Wyk
July 1, 2020
104
0
Share:

Mining suffered its biggest slump in six years to contribute to South Africa’s deepening recession, according to March quarter data.

Statistics South Africa said the country’s economy had recorded its third consecutive quarter of economic decline, with gross domestic product decreasing 2% quarter-on-quarter.

This followed a 1.4% GDP drop in the December quarter and a revised contraction of 0.8% for the third quarter.

The latest data captured less than a week of South Africa’s strict nationwide lockdown, which began on March 27 and forced mines to close as part of measures to stem the spread of the global COVID-19 pandemic.

However Stats SA said the effects of the pandemic “began to be felt well before then”.

It said mining activity slowed by 21.5% in the March quarter, its biggest slump in six years, and the sector had contributed -1.7% to GDP growth.

Decreased production was reported for iron ore, manganese ore, other metallic minerals and chromium, it said.

Mining and manufacturing, which contracted 8.5%, were the main drags on overall activity.

Agriculture was the best performing sector, increasing 27.8% in the March quarter and contributing 0.5% to GDP growth.

Mining production was recently shown to have plunged 47.3% year-on-year in April, according to Stats SA figures released in June.

South Africa’s finance minister Tito Mboweni last week said the gap between the country’s expenditure and revenue was “opening up like the mouth of the hippo”.

“Our Herculean task is to close that gap so we go back to our surplus days,” he told a parliamentary committee.

Previous Article

Rio Tinto reaches power supply deal with ...

Next Article

Zimbabwe: Gold revenue up 48 percent

0
Shares
  • 0
  • +
  • 0

Micheal van Wyk

Related articles More from author

  • Local News

    SA MINING INDUSTRY STRUGGLING TO CONTAIN SPREAD OF COVID-19

    July 8, 2020
    By Micheal van Wyk
  • Local News

    Thousands of Mozambican miners returning to S. Africa

    July 20, 2020
    By Micheal van Wyk
  • Local News

    First Quantum launches arbitration against Zambian state miner

    July 13, 2019
    By Micheal van Wyk
  • Local News

    Mandatory code of Covid mining practice gazetted

    May 20, 2020
    By Micheal van Wyk
  • Local News

    Miners join call for justice after activist killed in South Africa

    October 27, 2020
    By Micheal van Wyk
  • BusinessLocal News

    South African Mining Has Gone Under To Its Darkest In 39 Years

    June 15, 2020
    By Micheal van Wyk

Leave a reply Cancel reply

You may be interested in

  • Technology

    Omnia solidifies its position as a pioneer in the mining sector

  • Local News

    U.S. Launches Program to Strengthen Regulatory and Fiscal Governance in Zambia’s Mining Sector

  • Local News

    EXXARO: STRIVING TOWARDS EQUALITY FOR WOMEN IN MINING

Watch

  • EnergyVideo's

    South Africa reveals recovery plan for mining and energy sector

    Government has tabled a recovery plan to restore business confidence, stimulate investments, safeguard and create jobs in the mining and energy sector. “The Mining and Energy Recovery Plan intends to ...
  • Video's

    The draft petroleum Bill, skills development and how SA can benefit from Mozambique’s LNG project

    Adrian Strydom, acting CEO at South African Oil and Gas Association chats to African Oil Week on the draft Upstream Petroleum Resource Development Bill, Integrated Resource Plan, skill development for ...
  • Video's

    Steel production likely to stagnate or decline this year, says Roskill

    https://cisp.cachefly.net/assets/articles/attachments/82191_2020-05-05_roskill.mp4
  • Video's

    South Africa’s economy dire in comparison to rest of Africa

      Dr Azar Jammine, Director and Chief Economist at Econometrix, highlights the economic disparity between South Africa, West Africa and East Africa and how this could be an opportunity for ...
  • EventsVideo's

    Good Chemistry at Mining Indaba

    Under the umbrella of the new AECI Mining pillar, AECI Mining Explosives (AEL Intelligent Blasting) and AECI Mining Chemicals (Senmin), will offer solutions that focus on the customer and their ...

Timeline

  • February 24, 2021

    SRK’s decade in DRC evolves to local ownership

  • February 24, 2021

    BIA Group to supply Furukawa & RTDrill brands across Central and West Africa for Euroforgroup

  • February 23, 2021

    Mozambique the next frontier in graphite production

  • February 22, 2021

    BASE Resources passes important resource milestones in Kenya

  • February 19, 2021

    Cable, components and critical space exploration

Find us on Facebook

About Us

Mining Focus Africa provides valuable information on minerals’, events, exploration, energy and mining developments throughout Africa. It reports on the continent’s renaissance in mining and market opportunities associated with it.

Published 4 times a year, Mining Focus Africa is also available as a value-adding Digital online platform including weekly newsletter, online subscription and quarterly E-magazine downloads.

  • Recent

  • Popular

  • Comments

  • SRK’s decade in DRC evolves to local ownership

    By Micheal van Wyk
    February 24, 2021
  • BIA Group to supply Furukawa & RTDrill brands across Central and West Africa for Euroforgroup

    By Micheal van Wyk
    February 24, 2021
  • Mozambique the next frontier in graphite production

    By Micheal van Wyk
    February 23, 2021
  • BASE Resources passes important resource milestones in Kenya

    By Micheal van Wyk
    February 22, 2021
  • The way that minerals are mined affects conflict in eastern Congo

    By Micheal van Wyk
    July 30, 2019
  • Miners welcome stance against ‘blatant corruption’ in South Africa

    By Micheal van Wyk
    August 31, 2020
  • Wafi-Golpu a ‘game-changer’ for growing South Africa miner

    By Micheal van Wyk
    December 7, 2020
  • East Africa mining boom spells doom for environment

    By Micheal van Wyk
    December 4, 2020
  • JAQLEE CONSTRUCTION COMMENCING
    on
    February 1, 2021

    Mota-Engil picks up mining contract at Vedanta’s Gamsberg mine

    Good Day. Would like ...
  • www.xmc.pl
    on
    January 31, 2021

    Shock resignation of AngloGold Ashanti CEO after less than two years

    Spot on with this ...
  • Edison Forbes
    on
    January 6, 2021

    Contact Us

    I think this is ...
  • หนังโป๊
    on
    January 4, 2021

    Miners welcome stance against ‘blatant corruption’ in South Africa

    Excellent article. I certainly ...

Contact Us

Head Office
5 The Ferns, 364 Pretoria Avenue, Randburg, South Africa, 2194

Tell : +27 67 212 7565
Fax: 086 678 6956
www.lothbrokmedia.com

Accounts
Info@lothbrokmedia.com

Zambia
33 Malata Road, Madras,Lusaka, Zambia 3928Tell:+ 26 76 136 3654
Email Info
Info@miningfocusafrica.com

 

  • Contact
  • Adverts
© Copyright www.miningfocusafrica.com. All rights reserved.
Please wait...

Subscribe to our newsletter

Want to be notified when our article is published? Enter your email address and name below to be the first to know.
SIGN UP FOR NEWSLETTER NOW