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.
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