South Africa's gold output falls 12.3% in June

MENAFN - 10/08/2008 [-] Text [+]     (MENAFN) Governmental figures released in Pretoria showed that South Africa's gold production declined by 12.3 percent in June 2008 compared with the same period last year, AFP reported. Total mining production for the second quarter of 2008 decreased by 4.5 percent compared with the second half of 2007, the government said. Total mining production for the second quarter of 2008 after seasonal adjustments surged by 7.7 percent compared with the first quarter. The hike was due to an 8.2-percent increase in the production of non-gold minerals, with platinum group metals (PGMs) contributing 4.4 percentage points and diamonds adding 1.5 percentage points. It is worth mentioning that China has recently surpassed South Africa as the world's biggest producer of gold.

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