South Africa’s gold production fell by 7,4% in 2007 compared with an average decline of 6,3% per year for the last decade, the Chamber of Mines said on Monday.
Production for members of the chamber dropped by 6,7% to 219 223kg, the Chamber said in a statement.
”The 37% increase in capital expenditure by chamber members to R8,1-billion fed through to a 5,8% increase in the tons of material processed through the mills, but the 11,8% decrease in the average grade mined to 4,12 grams per ton resulted in overall production declining.”
In the fourth quarter of last year, the country’s gold production decreased by 7% to 61 845kg.
”On a year-on-year basis the rate of decline in gold production accelerated from 5,4% in the third quarter to 9,2% in the fourth quarter of 2007.
”A number of issues, including stoppages related to improving safety in the industry, had a negative impact on production.” — Sapa