July 1, 2011 11:06 PM SAST

SAfrica's Q1 gold output falls 9.3 pct q/q

Latest News in Economy

SAfrica's Q1 gold output falls 9.3 pct q/q

South Africa's gold output during the first quarter of this year fell 9.3 percent compared to the fourth quarter of 2010, the Chamber of Mines said on Friday.

Gold bars are displayed at South Africa's Rand Refinery in Germiston May 30, 2006.

Gold output fell to 44,682.7 kg compared with a revised 49,245.4 kg produced in the fourth quarter last year, it said in a statement.

The chamber also revised total gold production for 2010 to 191,402.3 kilograms from the 191,833.7 kilograms published earlier.

South Africa was the world's largest gold producer for decades up until 2006, but dwindling grades, deeper mining and stoppages for safety-related reasons have hit the sector.

To contact the editor, e-mail:

Siphiwe Sibeko / REUTERS
Gold bars are displayed at South Africa's Rand Refinery in Germiston
This article is copyrighted by Africa.IBTimes.com, the business news leader
Share

Join the Conversation