SA gold slump continues as annual production falls by 19.5% | Fin24
 
  • Mpumalanga Mine

    Constitutional Court rejects coal mining company’s attempt to appeal – but the saga isn’t over.

  • Audit Outcomes

    Turnaround plans had virtually no impact for ailing parastatals, the Auditor-General has found.

  • Battery Power

    Gordhan: Government intends to sign off soon on a "world class" battery storage project.

Loading...

SA gold slump continues as annual production falls by 19.5%

Jun 13 2019 11:48
Jan Cronje

South Africa's embattled gold sector faced more bad news on Thursday. 

According to Stats SA, annual gold production shrank by 19.5% in April, its 19th straight  monthly decrease. Annual production fell by 18.3% in March and 21.1% in February.  

According to Stats SA, annual iron ore production was down 11.9%, while chromium ore fell by 7.2%. 

Total mining production decreased by 1.5% year-on-year. 

While South Africa has one of the world's largest gold reserves, it is no longer the biggest producer of the precious metal on the continent, having lost its gold crown to Ghana. 

Stats SA reported that, while total mining production dropped, overall mineral sales increased by 16.1% year-on-year in April, largely due to an 81.7% increase in the value of sales of iron ore. 

stats sa  |  platinum  |  sa mining  |  sa economy  |  gold
NEXT ON FIN24X

 
 
 
 

Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What do you think about private healthcare in SA?

Previous results · Suggest a vote

Loading...