Rand flat before mining data

The rand was little changed in early trade on Tuesday before the release of local mining production figures.

At 0710 GMT, the rand traded at R18.90 against the US.

Statistics South Africa will publish December mining output around 0930 GMT, after upbeat November data showed a 6.8% expansion in overall output.

“December will provide evidence of whether some resilience is emerging in the industry. South Africa’s myriad crises, such as load-shedding (power cuts), rail logistics and port backlogs, weigh on productivity and throughput,” ETM Analytics said in a research note.

On the Johannesburg Stock Exchange, the Top 40 index was up 0.1% in early trade. The benchmark 2030 government bond was marginally firmer, the yield falling 2 basis points to 10.025%.