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GOLD PRODUCTION
SA’s Gold Output Drops Further
 
15th August 2008
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The fall in South Africa’s gold production continued in June, when the industry produced 12,3% less of the yellow metal than in the same month the previous year, government figures showed.

Actual total mining production in the country for the quarter ended June 30 slid by 6,3% compared with the figure for the June quarter in 2007, said Statistics South Africa.

South Africa’s mining industry has since January had to operate at an average of 10% less power than normal, which is curbing production.

The gold industry has also lost ounces because of a crackdown on safety in its mines, which include some of the world’s deepest and most deadly.

Compared with production in the first quarter of 2008, when the power crisis shut the country’s mines for five days, total mining production in the June quarter increased by 7,7%, after a seasonal adjustment.


Edited by: Creamer Media Reporter

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