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SA gold slump continues as annual production falls by 19.5%

SA gold slump continues as annual production falls by 19.5%

South Africa’s embattled gold sector faced more bad news on Thursday.

According to Stats SA, annual gold production shrank by 19.5% in April, its 19th straight monthly decrease. Annual production fell by 18.3% in March and 21.1% in February.

According to Stats SA, annual iron ore production was down 11.9%, while chromium ore fell by 7.2%.

Total mining production decreased by 1.5% year-on-year.