Data shows increase in mineral production

The Department of Mineral Resources has welcomed the year-on-year increase in mineral production in February, on the back of higher commodity prices.

The increase supports the department's view of a resurgence in the sector, following the rise in commodity prices, which supported increased market capitalisation as well as increased exploration activities, among others, the department said in a statement on Friday.

Data released by StatsSA on Thursday indicate that mineral production increased 3.1% year-on-year, with diamonds, iron ore, manganese ore and coal being the main contributors.

The department said the work which is underway to finalise the Mining Charter, the Mineral and Petroleum Resources Development Amendment Bill and Vision 2030 for the sector is expected to entrench investor confidence in the sector and bodes well for the further growth and development of the industry.

Source: South African Government News Agency

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