Monday, October 26, 2020

Botswana records decline in mining production

A new report just released by Statistics Botswana shows that the Index of Mining Production stood at 90.2 in the first quarter of 2016 showing a negative year-on-year decline of 5.6 percent from 95.6 during the 2015 first quarter. Diamond production was the main contributor to the decline in growth of mining production, which “contributed negative 4.6 percentage points.” The index of mining production for diamonds stood at 93.9 from January to March 2016, which is a significant decrease from the 99.1 recorded for the period January to March 2015.

 “Although less in weight, Copper in Concentrates also contributed to the overall Index of Mining Production decline with negative 4.3 percent. Copper-Nickel-Cobalt Matte, Soda Ash and Gold contributed positively to the overall mining production, with contributions of 2.8 percentage points, 0.5 and 0.1 of a percentage point respectively during the first quarter of 2016,” reads part of the report.

The report also states that “notwithstanding their positive contribution to the overall index, the three minerals’ combined weight is insignificant to influence the overall year-on-year percentage change in the total mining production to positive growth.”

As compared to the fourth quarter of 2016, the Index of Mining Production shows an increase of 15.8 percent from 77.9 during 2015 fourth quarter to 90.2 during 2016 first quarter. This increase was mainly attributed to production of Diamonds and Copper-Nickel -Cobalt Matte.

“Diamond production shows the sixth consecutive year-on-year decrease, having declined by 5.3 percent in the first quarter of 2016 as compared to the first quarter of 2015. “Soda Ash production increased by 67.3 percent in the first quarter of 2016 when compared to production during 2015 first quarter. Salt production increased by 14.8 percent during the first quarter of 2016 when compared to production during 2015 first quarter,” says the report.

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