https://www.engineeringnews.co.za

South African gold output falls most since February 2017 in May

12th July 2018

By: Bloomberg

  

Font size: - +

JOHANNESBURG – Gold output in South Africa, once the world’s biggest producer of the metal, declined the most since February 2017 in May.

Production dropped 16.2% from a year earlier, compared with a revised 5.8% contraction in April, Pretoria-based Statistics South Africa said Thursday in a statement on its website. That’s an eighth straight month of decreases.

Total mining output shrank for a third month, dropping 2.6% from a year earlier compared with a revised 4.4% retreat in April, it said. Production of platinum-group metals, of which South Africa has the largest known reserves, increased for the first time in six months, expanding 9.6% from a revised 6.3% contraction a month earlier.

Aging infrastructure, reserve depletion and accidents have raised costs and curbed mines’ output in South Africa. Mining companies came under added pressure late last year and in the start of 2018 from the stronger rand and have responded by closing shafts and cutting thousands of jobs in a labour-intensive industry.

Edited by Bloomberg

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Monitor Distributors
Monitor Distributors

We at Hawk High Pressure Pumps specialise in industrial pumps and pumping systems. Our high pressure washing equipment is locally manufactured and...

VISIT SHOWROOM 
The Steel Tube Export Association of South Africa
Steel Tube Export Association of South Africa

The Steel Tube Export Association of South Africa was established to develop sustainable, internationally competitive carbon steel tube and pipe...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.075 0.117s - 140pq - 2rq
Subscribe Now