Tuesday, January 15th 04:30 PM IST

SA Gold production dips 32.2% in Nov

# South Africa mining  # SA gold production  # platinum strike  

Analysts said the impact of a wave of wildcat strikes that swept the sector last year remained and reflecting in the outcome.

JOHANNESBURG(BullionStreet): Former top gold producer, South Africa's production continued to fell on the impact of the illegal mine strikes last year.

Statistics South Africa said country's gold output fell by 32.2% in volume terms in November, while total mineral production rose 1.1% compared with the same month last year.

Production of non-gold minerals was 4.5% lower, Statistics South Africa said. Production of platinum group metals climbed 3% in November.

Analysts said the impact of a wave of wildcat strikes that swept the sector last year remained and reflecting in the outcome.

South Africa's gold and platinum producers were rocked last year that resulted in over 50 people being killed, adding to the woes of an industry already battling with rising power and other costs and difficult depths.

Gold production in South Africa has sharply declined in the last seven years, knocking SA off its perch as the world's top bullion producer, a position it held throughout most of the 20th century.

After reading this article, people also read:

How about a fully featured Android App for your business?

Most Popular

Bullion Street Newsletter