The Chamber of Mines said Monday that production fell 6.4 percent in 2010. They blamed a 7.6 percent decrease in the average grade mined, leading to a lower yield of some 0.11 ounces (3.04 grams) for every ton of ore.It may seem hard to believe now, but South Africa produced 70% of world gold output as recently as the 1970s. Presently, it's in fourth place.
Monday, March 14, 2011
Despite Recent Increase, South African Output Down Last Year
As South Africa's mines get older, the closer they come to outright exhaustion. Despite a blip-up earlier this year, total output from South African mines fell by 6.4% last year.