HomeBase MetalsQ1 mining production down 9%

Q1 mining production down 9%

A typical South
African gold mine
Johannesburg, South Africa — MININGREVIEW.COM — 20 June 2008 – Total mining production in South Africa – the world’s biggest precious metals producer – is continuing its downward trend.
Releasing the latest production figures here yesterday, Statistics South Africa revealed that the country’s overall mining output for the three months ended April 2008 decreased to 9.0% below the same period in 2007, and was 4.1% down on the previous quarter.

This was due to a drop of 5.5% in the production of gold and 3.9% in the production of non-gold minerals. The major contributors to the decrease of 4.1% were platinum group metals (-3.7% percentage points), diamonds (-0.8%) and gold (-0.7 %). However, coal contributed positively (1.3%) to the 4.1% decrease.  

Actual total mining production for April 2008 fell by 2.0% compared to April 2007, while gold production decreased by 10.1% in April 2008 as opposed to April 2007.

The statement added that the total seasonally adjusted value of mineral sales at current prices for the first quarter of 2008 reflected an increase of 13.5% (R8 016,4 million) above the previous quarter. This can be attributed to increases of 14.3% (R7 158.7 million) in the sale of non-gold minerals and 9.0% (R857.7 million) in the sale of gold.

Actual total value of mineral sales at current prices for the first quarter of 2008 rose 21.1% above the first quarter of 2007. The major contributors were PGMs (7.1%, or R3 783.3 million); coal (6.9 p% or R3 681.1 million); manganese ore (3.0% or R1 605,7 million); other non-metallic minerals (1.8 percentage points or R941.3 million) and iron ore (1.5% or R791.1 million).