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Johannesburg — A 5,8% drop in production last year saw SA slip further down the global rankings to be the fourth-largest gold producer in the world, according to figures released on Friday by the Chamber of Mines.
SA lags China, Australia and the US after its gold output fell 5,8% to 204922,8kg compared with 217648,5kg in 2008.
SA was the world's largest gold producer for most of the past century until 2006, when China overtook it.
SA's decline came as global gold production rose 6% last year to a six-year high. Gold prices have continued to rally.
Analysts say that with labour problems, falling grades and several mines reaching the end of their lives, South African production is not expected to increase sufficiently for it to regain top spot among the world's gold producers.
"It is going to be tough for SA to get back to its number one position again because the issue for the industry is mainly a geological one," said Alan Bird, a mining expert at consultancy Bain & Compan[/size]
Email|Print|Comment
Share:
Johannesburg — A 5,8% drop in production last year saw SA slip further down the global rankings to be the fourth-largest gold producer in the world, according to figures released on Friday by the Chamber of Mines.
SA lags China, Australia and the US after its gold output fell 5,8% to 204922,8kg compared with 217648,5kg in 2008.
SA was the world's largest gold producer for most of the past century until 2006, when China overtook it.
SA's decline came as global gold production rose 6% last year to a six-year high. Gold prices have continued to rally.
Analysts say that with labour problems, falling grades and several mines reaching the end of their lives, South African production is not expected to increase sufficiently for it to regain top spot among the world's gold producers.
"It is going to be tough for SA to get back to its number one position again because the issue for the industry is mainly a geological one," said Alan Bird, a mining expert at consultancy Bain & Compan[/size]
