Gold production in South Africa was reported to have contracted 1.7% year-on-year in April, or at a slower rate compared to the prior month (-4.3% YoY).April has been the sixth straight month of outpu
South Africa’s gold output shrinks for 6th month in April
Gold production in South Africa was reported to have contracted 1.7% year-on-year in April, or at a slower rate compared to the prior month (-4.3% YoY).
April has been the sixth straight month of output decline, but the pace has been the softest since September 2023.
That performance contributed negatively to the volume of mining production by 0.2 percentage points, according to data by Statistics South Africa.
The nation’s total mining production grew 0.7% year-on-year in April, while recovering after a revised down 4.8% slump in March.
In seasonally adjusted monthly terms, gold production rose 2% in April, following a 1.5% growth in March.
The South African Rand weakened 0.51% on the day against the US Dollar, with the USD/ZAR currency pair last trading at 18.4626.
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