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Production pruning - South African mining production in May dips
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Friday, 10 Jul 2009
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South African mining output fell by 14.5% YoY in May from a year earlier after companies including Anglo Platinum Ltd and Xstrata Plc cut production of metals as slowing economic growth around the world reduced consumption.

Statistics South Africa in a report on its Web Site said that output of minerals other than gold fell by 15.1%, while gold production declined 10.5%.

Anglo Platinum and Lonmin Plc shut mines in South Africa, the biggest producer of platinum, on slumping demand for the metal used in jewelry and anti pollution devices for cars.

The agency said that the value of mineral sales in April dropped 19.4% to ZAR 20.6 billion (USD 2.5 billion). The decrease in non-gold mineral sales was 23.8%.

(Sourced from Bloomberg.net)

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