South African gold loses its shine

File: AngloGold's sale of the mine comes in the midst of the country's rolling blackouts.

File: AngloGold's sale of the mine comes in the midst of the country's rolling blackouts.

PRETORIA – South Africa’s mining production fell by 1.5 percent year-on-year in April 2019, according to Statistic South Africa.

The biggest loser was gold, with production down by 19.5 percent.

It is the metal's 19th straight monthly decrease.

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South Africa is no longer the world's biggest gold producer on the African continent.

Ghana now produces the most gold.

Iron ore production was down 11.9 percent, but the value of sales was up 81.7 percent.

This has contributed to an overall mineral sales increase of 16.1 percent.

Source
eNCA