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South African Gold Production Plummets 46 Percent in October
Dec. 11, 2012 07:47AM PST
Precious MetalsBloomberg reported that gold production in South Africa dropped sharply by 46 percent in October because of widespread labour strikes.
Bloomberg reported that gold production in South Africa dropped sharply by 46 percent in October because of widespread labour strikes.
As quoted in the market report:
AngloGold Ashanti Ltd. and Gold Fields Ltd., the world’s third and fourth-largest gold producers, were forced to close all their local mines in October because of strikes. The unrest will probably cost the economy about half a percentage point of growth, National Treasury Director General Lungisa Fuzile said.
