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Aluma Capital (Pty) Ltd is a registered Financial Services Provider (FSP 46449) in terms of The Financial Advisory and Intermediary Services Act (37 of 2002)
September 6, 2024
September 6, 2024

Mining Production Outlook

Mining production, including gold, showed mixed performance for the year up to June 2024. The output and growth of major commodities varied significantly. Coal performed well in the first two months of 2024 but faced challenges thereafter. In contrast, iron ore saw positive performance, while the Platinum Group Metals (PGM) recorded a growth of 1.6% for the year up to June.

Gold production, however, remains a major concern, as output from gold mines declined annually for all six months of 2024, despite record-high international prices driven by global uncertainty and recession fears in the U.S.

Given the mixed performances of the key categories, along with gradually improving market sentiment and electricity supply, total mining production may exhibit early signs of recovery in July.


Frederick Mitchell

Frederick Mitchell is an economist with 16 years of experience, specializing in the intersection of politics, economics, and finance on both domestic and international levels.

His extensive background spans the private sector, where he worked in equity and investment, as well as the public sector, where he served as a senior economist at SARS.

As part of the Aluma team, Frederick leverages his expertise to identify sectors with growth potential and assess those with higher risk, providing valuable insights and strategic advice.


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