HomeGoldGold output up in third quarter

Gold output up in third quarter

Gold “’ third quarter
production up on
previous quarter, but
down on last year
Johannesburg, South Africa — MININGREVIEW.COM — 14 December 2010 – South Africa’s gold output during the third quarter of this year rose 2.1% above the level reached in the second quarter, according to the Chamber of Mines.

In a statement released here, the Chamber revealed that gold output in the third quarter rose to
50 504.3 kg compared with the 49 444.5 kg in the previous quarter.

On a year-on-year basis, however, gold production was down 4.1% in the quarter to the end of September, the statement added.

South Africa’s gold production has been dwindling, and fell by 5.8% in 2009, allowing the country to slide to the fourth-biggest producer after China, Australia and the United States.

South Africa was the world’s largest gold producer for most of the last century up until 2006, but the gold sector has been adversely affected by dwindling grades, as well as stoppages of mines for safety-related reasons as companies continue to move deeper in search of gold.