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According to Statistics South Africa, the country’s gold output fell by 45.7 percent in volume in October while total overall mineral production was down 7.7 percent compared with the same month in 2012. Copper production fell by an even greater 56.4% year on year, but this is far less significant for the country’s economy.
The major cause of the fall in gold output was, of course the devastating effects of the mine wildcat strikes which by October had started to fall away at the platinum and other mines. These hit the gold mines hard at that stage with production by the country’s two top gold miners, AngloGold Ashanti and Gold Fields virtually shut down for the month in perhaps partly politically-motivated inter-union strife.
According to Statistics South Africa, the country’s gold output fell by 45.7 percent in volume in October while total overall mineral production was down 7.7 percent compared with the same month in 2012. Copper production fell by an even greater 56.4% year on year, but this is far less significant for the country’s economy.
The major cause of the fall in gold output was, of course the devastating effects of the mine wildcat strikes which by October had started to fall away at the platinum and other mines. These hit the gold mines hard at that stage with production by the country’s two top gold miners, AngloGold Ashanti and Gold Fields virtually shut down for the month in perhaps partly politically-motivated inter-union strife.
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