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Iron ore production lifts SA's mining output

By unknown | Aug 08, 2008 | COMMENTS [ 0 ]

Robert Laing

Robert Laing

A surge in iron ore production limited South Africa's overall decline in mining output in June due to mines having to use less electricity than last year.

June's gold production was 12percent lower than June last year and platinum group metal production was down 11percent, bringing the country's overall mining production down six percent.

Kumba's expansion projects saw iron ore production jump 24percent from May, making iron ore one of the few mining products to show an annual volume growth.

Coal production slipped seven percent from the previous month, taking it to the same level as the previous year.

Measured by value, however, mining surged 34percent to R26,6billion in May year-on-year thanks to soaring commodity prices.

Statistics SA's monthly data provides volume figures from two months ago and rand sales values from three months ago.

Platinum returning above $2200 an ounce in May swept platinum group metal sales over R9,4billion, a 17percent jump from the previous month.

Coal sales slipped two percent to R5,5billion, which is still higher than May last year.

Gold sales of R3,7billion were nearly the same as both April and last year May.


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