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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (38480)	6/11/2009 8:53:15 PM
From: LoneClone	Respond to of 195465

SA mining production slumps 10,6% miningweekly.com By: Creamer Media Reporter 11th June 2009 JOHANNESBURG (miningweekly.com) – South Africa’s total mining production for April was down 10,6% year-on-year, with gold production down 13% year-on-year and nongold production 10,3% year-on-year, Statistics South Africa (Stats SA) reported on Thursday. The country’s mining production for the three months ended April was down 3,1%, compared with the previous three months, with the drop in diamond production contributing 2,3% of the decline. Growth consultancy firm Frost & Sullivan said earlier in the week that South Africa’s gold output would continue to fall until 2014. Metals and mining analyst Wonder Nyanjowa had said that the depth of South Africa’s orebodies, together with rising operating costs and its influential unions, would present key challenges, despite the stronger gold price environment. Meanwhile, Stats SA reported that the value of mineral sales had dropped by 16% to R21,7-billion in March, compared with R25,9-billion the year before. The total seasonally adjusted value of mineral sales at current prices for the first quarter of 2009 was down 12,8%, or R9-billion, compared with the fourth quarter of 2008, said Stats SA. This was mainly as a result of a 13,7% decline in the sale of nongold minerals and an 8,9% decline in gold sales in the quarter.