SA gold production slides
South African gold production in October fell 14,4% year-on-year, and in the three months to end October production fell 17,8% against the same three months last year, Statistics South Africa said on Tuesday.
Releasing its latest mining production and minerals sales data, Stats SA said non-gold production showed an increase of 6,5% in production year-on-year and only a 0,2% decline between August and October.
Total mining production was therefore 3,5% higher in October this year when compared with October last year, but 2,4% lower when the three months to end October were compared with the same period last year.
However, total mining production for the three months to end October 2008, after seasonal adjustment, increased by 4,9% compared with the previous three months, said Stats SA.
“The main contributors to the increase were platinum group metals, iron ore and nickel,” the statistics bureau reported.
Turning to mineral sales, Stats SA said the total seasonally adjusted value of mineral sales at current prices for the third quarter of 2008 reflected a decrease of 1,1% compared with the second quarter of 2008.
This decrease of 1,1% or R862,4-million was attributed to a decrease of 9,7% or R1,13-billion in gold sales.
“However, the actual estimated total value of mineral sales at current prices for the third quarter of 2008 increased by 47,6% compared with the third quarter of 2007,” it said.
Major contributors to this increase, year-on-year, were coal, platinum group metals and manganese ore.—I-Net Bridge