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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (25614)	11/15/2006 7:51:25 PM
From: RealMuLan	Read Replies (1) \| Respond to of 78410

Mines produce more gold Tue, 14 Nov 2006 business.iafrica.com South Africa's gold mines produced 2.4 percent more gold in the quarter to end-September, compared to the previous three month period, according to the industry representative, the Chamber of Mines. In the September quarter 70 313 kilograms were produced compared to 68 685.9 kilograms in the previous quarter. On a year-on-year basis the rate of decline slowed to 2.9 percent in the third quarter compared to a 6.4 percent decline in the second quarter of 2006. Total South African gold production for the first three quarters of 2006 at 207 001.5 kilograms is 6.8 percent lower than the same period in 2005. Chamber members produced 85 percent of the production recorded and also increased their production by 2.4 percent thanks to an increase in tons milled and higher grades, according to the Chamber. On a year-on-year basis however, average grades for Chamber members have declined by 13.8 percent, while tons milled have increased by 11 percent. "The year-on-year decline in the average grade mined was facilitated by the 55.4 percent increase in the gold price to an average of R142 353 per kilogram, which in turn allowed mining companies to mine lower grade ores that had previously been uneconomic to mine," said the Chamber in its statement. I-Net Bridge