SOUTH AFRICA · ECONOMY
Key Facts
- The country South Africa’s mining output fell 10.7% from a year earlier in September 2026, led by iron ore, coal and platinum metals.
- The release Statistics South Africa (Stats SA), the national statistics office, published the figures on Thursday 12 November 2026.
- Gold Gold production fell 7.5% from September 2025, its third monthly drop above 6% in a row.
- The quarter Mining output, adjusted for seasonal swings, dropped 6.0% in the third quarter versus the second.
- Next Stats SA is due to publish October mining data on 10 December 2026.
South Africa’s mines produced 10.7% less in September 2026 than a year earlier, Stats SA said on Thursday 12 November 2026. It is the fifth monthly fall in a row, after output grew in early 2026.
For US readers, the data matters because platinum group metals (PGMs) go into car exhaust catalysts, and because South African miners Gold Fields, Harmony Gold and Sibanye-Stillwater have shares trading in New York. Our earlier report on August’s mining slump showed the same direction.
What Happened
Stats SA’s preliminary release, published at 11:30 South African time (09:30 UTC), shows the volume of mining production down 10.7% from September 2025. August was revised to a fall of 11.7%, so output has now been more than a tenth below the year before two months running.
Month on month, output adjusted for normal seasonal swings rose 2.8% in September after falling 4.8% in August and 2.1% in July. That small rebound did not stop the third quarter from ending 6.0% below the second quarter.
Production had grown from a year earlier in each of the first four months of 2026, by between 2.5% and 10.0%. It has fallen in every month since May, and the first nine months of the year are now 2.2% below the same period of 2025.
Where the Fall Came From
Iron ore fell 23.7% from a year earlier and accounted for 3.4 points of the 10.7% total fall. Coal fell 13.4% (minus 3.3 points), PGMs fell 9.9% (minus 2.9 points) and diamonds fell 63.1% (minus 1.1 points).
Not everything shrank. Chromium ore rose 13.1% and manganese ore rose 12.8%, which softened the decline.
PGMs, a group of metals that includes platinum and palladium, did rebound from August: seasonally adjusted output jumped 21.3% in the month. Even so, PGM output was 12.5% lower in the third quarter than in the second, the largest drag on the quarter at minus 3.5 points.
Gold Slips Again
Gold production fell 7.5% from a year earlier, after drops of 6.4% in August and 7.7% in July. Gold subtracted 0.7 percentage points from total mining output.
On a seasonally adjusted basis, gold rose 2.3% from August, but it stayed 6.7% below its April to June level. Gold carries a 10.48% weight in Stats SA’s production index, so its decline moves the total less than PGMs (27.11%), coal (26.32%) or iron ore (16.41%).
Sales Tell a Softer Story
The value of mineral sales fell 4.1% from a year earlier to R76.2 billion (about US$4.6 billion at about 16.64 rand per US dollar, the South African currency). Sales are measured at current prices, so they are a different yardstick from production volume.
Seasonally adjusted sales rose 12.8% from August, yet they were 15.6% lower in the third quarter than in the second. Iron ore sales fell 23.1% and PGM sales 7.0%, while coal sales rose 6.2%.
What It Means for You
If you hold South African miners through US-listed shares or funds, the September data shows that production volumes are well below last year’s level. Platinum metals and gold output both sit below September 2025.
Investors will watch whether the October figures, due on Thursday 10 December 2026, show a recovery or a longer slump. Stats SA’s data does not say how metal prices or company earnings are affected.
What Is Not Known
Stats SA’s release gives the size of the fall but does not give reasons for it, so the causes are not confirmed here. The figures are also preliminary and can be revised, as the August number already was.
It is not known whether the PGM rebound in September will last into October. The next Stats SA mining release is due on Thursday 10 December 2026.
More: South Africa news in English, every day from The Rio Times.
Frequently Asked Questions
How Much Did South African Mining Output Fall in September 2026?
Mining production fell 10.7% from September 2025, according to Stats SA. Seasonally adjusted output rose 2.8% from August.
Did South African Gold Production Fall Too?
Yes, gold production fell 7.5% from a year earlier in September 2026. It was the third monthly decline of more than 6%.
Which Minerals Dragged Mining Output Down?
Iron ore, coal, PGMs and diamonds were the largest drags, falling 23.7%, 13.4%, 9.9% and 63.1%. Chromium ore and manganese ore rose.
Why Does South African Mining Matter to the US?
PGMs, including platinum, are used in car exhaust systems, and PGMs make up the largest share of South Africa’s mining output index at 27.11%. Several South African miners also have shares traded in New York.
Sources: Statistics South Africa, Mining: Production and sales, September 2026 (P2041, preliminary), 12 November 2026; Statistics South Africa, Mining: Production and sales, August 2026, October 2026; RT, a market-data provider, exchange rate USD/ZAR, 12 November 2026.
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