October mining production remains in the doldrums

(iStock)
(iStock)

South Africa's annual mining production shrank for the third month in a row to fall by 2.9% in October, according to Stats SA. 

The Stats SA print was largely in line with predictions of economists, with NKC Research Africa anticipating a 2.7% annual decline for the month. 

The production figures for October do not include recent mine stoppages caused by the implementation of stage 6 load shedding on Monday, which forced much of SA's underground mining industry to put production on hold. 

With load shedding lowered to stage 2, many mines have recommenced underground operations. "We can’t operate like this but if we don’t cut the power, the national grid collapses,” Johan Theron, a spokesman for Implats, told Bloomberg. 

The impact that the stoppages has had on production will only be revealed when Stats SA publishes its production data for December in early 2020. 

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