Mining

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    Jason is the senior industry analyst at FNB. Prior to joining FNB, Jason worked in the Global Markets Research team at Rand Merchant Bank. In his six years with the FirstRand group, he has advised both internal and external clients on how macroeconomic factors will impact developments within the various sectors of the economy. Before joining Rand Merchant Bank, Jason was the Head of Natural Resources research at Accenture, a global management consultancy. He holds a PhD in Anthropology from the University of the Witwatersrand.

    As anticipated, mining production bounced back in October, expanding by 5.2% y/y and ensuring a positive start to fourth quarter output. On a seasonally adjusted basis, production was up 3.4% m/m, while volumes are 4% higher year-to-date. The biggest contributors to the increase were iron-ore and coal, which expanded by 17.9% y/y and 6% respectively, […]

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    Jason is the senior industry analyst at FNB. Prior to joining FNB, Jason worked in the Global Markets Research team at Rand Merchant Bank. In his six years with the FirstRand group, he has advised both internal and external clients on how macroeconomic factors will impact developments within the various sectors of the economy. Before joining Rand Merchant Bank, Jason was the Head of Natural Resources research at Accenture, a global management consultancy. He holds a PhD in Anthropology from the University of the Witwatersrand.

    September mining production contracted by -0.9% y/y and -7.1% m/m, contrary to our expectations of a moderate expansion. The worse than anticipated number was largely the result of a -7.5% y/y decrease in iron ore output, and a -8.3%  and -2.0% drop in PGM and coal production respectively. Gold, manganese and other non-metallic minerals added […]

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    Jason is the senior industry analyst at FNB. Prior to joining FNB, Jason worked in the Global Markets Research team at Rand Merchant Bank. In his six years with the FirstRand group, he has advised both internal and external clients on how macroeconomic factors will impact developments within the various sectors of the economy. Before joining Rand Merchant Bank, Jason was the Head of Natural Resources research at Accenture, a global management consultancy. He holds a PhD in Anthropology from the University of the Witwatersrand.

    Contrary to our expectation of a small contraction in August mining output, production surged 6.9% y/y and 5.3% m/m (seasonally adjusted), with all components of the index, apart from copper and building materials, registering gains. The biggest contributors to the jump in production were iron-ore, diamonds and gold, adding 1.3 pps, 1.2 pps and 1.1 […]

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    John acquired the degree Master in Economics at the University of Stellenbosch before starting his career as an economist in the National Treasury. He was part of the team that implemented the country’s first Medium Term Expenditure Framework in the early days of Minister Trevor Manuel’s tenure as Finance Minister. Thereafter, he became the Southern African Macroeconomist for Globalinsight, a major United States based economic consultancy with a global presence. He entered banking with BOE Group, shortly before moving to Absa Group in 2000 where he was the senior macroeconomist co-ordinating the Group’s macroeconomic forecasting process. In 2004, he was named Reuters Economist of the Year. In 2006, he joined First national Bank to pursue a slightly different focus as the bank’s Property Economist. He’s a social endurance sport junkie, having brought up the rear of the field in events such as the Comrades Ultra-Marathon, the Ironman Ultra-Triathlon, and more recently the 2,330 km Freedom Challenge Mountain Bike Race Across South Africa. His sporting allegiances lie with the Blue Bulls.

    The FNB Mining Towns House Price Indices point to a housing market under performance of late, as well as cumulatively since early-2011. This is believed to be in part the result of the global metals commodity price slump starting early in 2011, an event which was bound to have a cooling impact on many mining town […]

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    Jason is the senior industry analyst at FNB. Prior to joining FNB, Jason worked in the Global Markets Research team at Rand Merchant Bank. In his six years with the FirstRand group, he has advised both internal and external clients on how macroeconomic factors will impact developments within the various sectors of the economy. Before joining Rand Merchant Bank, Jason was the Head of Natural Resources research at Accenture, a global management consultancy. He holds a PhD in Anthropology from the University of the Witwatersrand.

    Mining production ended the quarter on a very strong note with March volumes up 15.5% y/y and 3.7% m/m, while the 3-month seasonally adjusted growth rate rose 3.5%. The year-on-year number must be viewed in the context of an 18.4% y/y drop in the same month last year. Nevertheless, the positive number was broad based, […]

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