SOUTH AFRICA MINING OUTPUT RISES 3.1 PCT IN FEBRUARY

JOHANNESBURG– South Africa’s mining sector made gains in February with mining output rising by 3.1 per cent compared with the previous month, according to the latest data released by Statistics South Africa (StatsSA).

The biggest contributors to the higher output came from diamonds and iron ore.

An economist at Econometrix, a leading South African economic consultancy, Sam Rolland, says that finalising the proposed Mining Charter and taking advantage of the improvement in commodity prices will see further investment in the sector.

I think the hope for 2018 for many in the industry is that the Mining Charter will be finalised within the next month or two,” he said.

“And many are hoping that this is cause for a lot of more optimism and hopefully, we should see a return of fixed investment, particularly in the mining sector, which should bring about a quicker recovery and the hope is that the country will be able to take full advantage of the upswing in commodity prices.

Source: NAM NEWS NETWORK