【SMM Precious Metals Express】

The Minerals Council South Africa stated that after five consecutive months of growth, South Africa’s mining production in May declined 4.5% YoY, reflecting rising energy costs, heightened global trade uncertainties, and slowing momentum in commodity price gains.

Despite the decline in May, total mining production in the first five months of this year still increased 3.5% YoY, but the growth rate has continued to slow, indicating that the recovery momentum of production is not yet solid.

Platinum group metals remained the main pillar of growth in South Africa’s mineral sales. From January to May this year, PGMs sales surged 109.4% YoY, while gold sales rose 44.7%, boosting total mineral sales by approximately 100 billion rand compared to the same period last year.