South Africa Gold output dips by 5.3% in June
Gold production has declined by 5.3% in volume terms in June as compared to same period last year in South Africa.
According to a report released by Statistics South Africa, production of non-gold minerals and total mineral production both fell 4.9% that month compared with the same month last year.
However, the year's trend of stunted gold production should not cause too much alarm due to the nature of the industry, analysts said. Mining contributes about 5% to SA's gross domestic product.
In May, the country's gold output fell 4.9% in volume terms, while total mineral production dropped 7.6% compared with the same month last year. Production of non-gold minerals also decreased 8%.
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