PGMs Drag Down South Africa’s April Mine Output

Mining Weekly reported that South Africa’s platinum-group metals output fell 13.4 percent in April, making the second-biggest contribution to the country’s 0.4-percent fall in mining production that month.

As quoted in the market news:

Statistics South Africa on Tuesday said that PGM output fell by 13.4% in April from the same month in 2012. This compares with a 1.8% year-on-year increase in the previous month.

The 0.4% year-on-year drop in the volume of mining production in April compares with a 3.8% year-on-year contraction in March. But despite the rate of decline slowing, Nedbank economists said in a statement that prospects for the mining sector remained poor.

South African platinum producers are under pressure, with at least two-thirds of platinum mines operating at a loss, while gold companies, suffering from a lower gold price, are also taking strain.

Click here to read the full Mining Weekly report.

Get the Latest Platinum Investing Stock Information

Get the latest information about companies associated with Platinum Investing delivered directly to your inbox.

Agriculture
+ see more
Copper
+ see more
Gold Bullion
Gold Production/Mining
+ see more
Gold Project Generators
Gold Prospecting and Exploration
+ see more
Gold Resource Definition/Pre Feasibility
Gold Resource Expansion/Feasibility Study/PEA
Graphite Production/Mining
Graphite Prospecting and Exploration
Graphite Resource Definition/Pre Feasibility
Graphite Resource Expansion/Feasibility Study/PEA
Molybdenum
Silver $0-15m
Silver $15-50m
Other Companies
+ see more

Select All Select None

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

Comments

Leave a Reply