South African Mining Production Up 5.8% in 2003
February 11, 04
Total mining production in South Africa - the world's largest producer of gold and platinum - rose 5.8 percent in 2003, according to the latest figures from Statistics South Africa.
“(This) was mainly due to an increase of 9.5 percent in the production of non-gold minerals,” the statistics organization said, adding that gold production decreased by 6.3 percent.
South African mining companies took a beating last year as the rand appreciated by 28 percent against the dollar, eroding miners' profit margins.
South Africa produces 55 different minerals at around 700 mines, including precious metals, coal, diamonds, minor and base metal and exports almost four-fifths of its mineral output.