Thursday, March 14th 05:52 PM IST

South Africa Gold output drop continues into 2013

# South Africa mining  # SA gold production  # platinum strike  

The nearly 80% fall in South African gold production has led to it being recently overtaken by China, Australia and the U.S. It is now even at risk of being overtaken by Russia.

JOHANNESBURG(BullionStreet): Former top gold producer South Africa said it's gold production dropped 8.1 percent in volume terms during the first month of this year.

According to Statistics South Africa, total mineral production rose 7.3 percent compared with the same month last year.

Production of non-gold minerals was 10.2 percent higher, Statistics South Africa said. Production of platinum group metals rose 1.9 percent.

South Africa as recently as two decades ago was the world's largest producer of gold by a huge margin.

Only 40 years ago South Africa produced more than 1,000 tonnes of gold per annum but will only produce some 220 tonnes in 2012.

Production peaked in 1970 and has been falling steadily and sharply since.

The nearly 80% fall in South African gold production has led to it being recently overtaken by China, Australia and the U.S. It is now even at risk of being overtaken by Russia.

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