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South Africa Mines Output Shrinks Most in Two Years in March

  • Gold output shrinks most since 2015; platinum output drops
  • Median estimate was for 0.2% expansion in total production
Updated on

Mining output in South Africa, the world’s biggest platinum producer, contracted the most in two years in March.

Production shrank 8.4 percent from a year earlier, Pretoria-based Statistics South Africa said in a statement Thursday. That’s the biggest contraction since March 2016 and compares with a revised 2 percent expansion in February, it said. The median estimate in a Bloomberg survey was for a 0.2 percent increase.