South African Gold Output at 255 to 260 Tonnes

Source: Miningmx.com (10/29/07)

...South African gold output fell to its lowest level in 84 years in 2006 because of declining mining grades...

South African gold production will fall between 5.5% and seven percent in 2007 from the previous year as the sector continues to see declining output eroding its long-held position as the world’s leading source of gold.

“We have seen production so far this year down seven percent already year-on-year so you are probably looking at production of 255 to 260 tonnes for 2007,” said Roger Baxter, chief economist at the South African Chamber of Mines.

The Chamber will bring out 2007’s gold production data around April next year once the mining companies have all reported their production for the year. Production of 255 to 260 tonnes for 2007 South African gold output fell to its lowest level in 84 years in 2006 because of declining mining grades. Production in 2006 was 275,119kg in 2006, some 7.5% lower than the previous year.

China is vying hard for the number one spot.

Research and Markets said in a China Gold Industry report for 2007 that China is expected to produce up to 300 tonnes of gold a year by 2010.

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