South African Monthly Mine Output Falls Most Since May 2010

South African mine production fell 5.4 percent in September from a year earlier, the biggest monthly drop since May 2010, Statistics South Africa said.

The retreat followed a 4.2 percent decline in August, according to data from the Pretoria-based statistics agency. Seasonally adjusted mining output fell 5.1 percent in the third quarter compared with the second quarter, according to the agency, with platinum group metals the main contributor to the decline.

The price of platinum, used in jewelry and devices to cut vehicle pollution, has dropped 8.3 percent this year in London trading while gold has jumped 24 percent. South Africa is the world’s biggest platinum producer.

To contact the reporter on this story: Renee Bonorchis in Johannesburg at rbonorchis@bloomberg.net

To contact the editors responsible for this story: Edward Evans at eevans3@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.