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Johannesburg - South Africa’s mining output fell sharply in volume terms in February, highlighting the impact of a government safety drive that has slowed production and a crippling strike at the world’s biggest platinum mine.
Production of platinum group metals (PGMs) fell 47.6% while gold output fell by 11.5% in volume terms in February. Total mineral production was down 14.5% compared with the same month last year, Statistics South Africa said on Thursday.
An illegal and deadly six-week strike at the massive Rustenburg operations of Impala Platinum, the world’s second-largest producer of the precious metal, was the main cause of the sharp PGM decline.
The strike cost Implats 120 000 ounces in lost output and effectively cut 15% of global supply for several weeks.
A government drive to reduce mining deaths has led to more inspections that shut shafts and cut production.
South African safety stoppages cost world No 3 producer AngloGold Ashanti [JSE:ANG] 76 000 ounces of lost production in the first three months of 2012, more than for the whole of last year, the company said in a trading statement on Tuesday.
South Africa is the world’s top platinum producer and remains a major gold player.
Production of platinum group metals (PGMs) fell 47.6% while gold output fell by 11.5% in volume terms in February. Total mineral production was down 14.5% compared with the same month last year, Statistics South Africa said on Thursday.
An illegal and deadly six-week strike at the massive Rustenburg operations of Impala Platinum, the world’s second-largest producer of the precious metal, was the main cause of the sharp PGM decline.
The strike cost Implats 120 000 ounces in lost output and effectively cut 15% of global supply for several weeks.
A government drive to reduce mining deaths has led to more inspections that shut shafts and cut production.
South African safety stoppages cost world No 3 producer AngloGold Ashanti [JSE:ANG] 76 000 ounces of lost production in the first three months of 2012, more than for the whole of last year, the company said in a trading statement on Tuesday.
South Africa is the world’s top platinum producer and remains a major gold player.
