April 2024 Mining Sector: 0.7% Production Rise, 11.8% Mineral Sales Surge

  • April 2024 mining production rose by 0.7% year-on-year, led by PGMs and chromium ore.
  • Mineral sales saw an 11.8% surge, with gold sales skyrocketing by 226.5%.
  • Three-month analysis shows coal as the major detractor, impacting both production and mineral sales.

Mining production saw a modest year-on-year increase of 0.7% in April 2024. Positive contributions were led by PGMs and chromium ore, while manganese ore and coal showed declines.

Production Insights

  • PGMs surged by 16.9%, contributing 4.3 percentage points.
  • Chromium ore followed with a 20.8% rise, contributing 0.9 percentage points.
  • Manganese ore, iron ore, and coal saw negative growth.

Seasonal Adjustments

Month-on-month, mining production increased by 0.8% in April 2024. This marks a turnaround from March’s decline of 4.4% and February’s 5.2% growth.

Three-Month Comparison

Over the three months ending in April 2024, mining production rose by 0.1%. Iron ore and gold were the main drivers, while coal was the largest detractor.

Mineral Sales Report: April 2024

Sales Performance Mineral sales, in terms of current prices, exhibited an 11.8% year-on-year increase in April 2024. Notable contributors were gold, chromium ore, and iron ore.

Key Contributors

  • Gold sales skyrocketed by 226.5%, contributing 12.7 percentage points.
  • Chromium ore and iron ore also showed significant gains.
  • Coal and PGMs, however, recorded negative contributions to sales.

Seasonal Adjustments

Month-on-month, mineral sales surged by 14.0% in April 2024, rebounding from March’s and February’s declines.

Three-Month Analysis

Over the three months ending in April 2024, mineral sales decreased by 13.2%. Coal was the major drag on sales performance during this period.

Implications and Market Reaction

The mining sector’s mixed performance reflects ongoing dynamics in global commodity markets. Positive trends in PGMs, gold, and iron ore offset declines in coal and PGMs, indicating a nuanced landscape for investors.


Looking ahead, factors such as geopolitical tensions, sustainability initiatives, and technological advancements will continue to influence the mining sector’s trajectory. Investors are advised to maintain a balanced approach amid evolving market conditions.

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