SOUTH African gold producer Avgold said on Monday it was considering the disposal of its ETC gold mining complex in Mpumalanga. ”In the event that the company decides to proceed with the disposal, prospective buyers will be invited to participate in a formal process by which the disposal will be effected,” Avgold said in a statement. Avgold’s output fell to 689kg of gold in the quarter ended March 31, down from 748kg in the previous quarter to end December. The decline was due mainly to a lower recovery grade at the ETC complex. The Johannesburg-based company is devoting most of its resources to building the new Target gold mine which is forecast to produce 350_000 ounces of gold annually. – Reuters