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South Africa Mining Production Increases In 2Q

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Mine production in South Africa was up 3.5% in the second quarter, reported the government's statistics department on Thursday.

Iron ore and diamonds were some of the biggest gainers, up 11.8% and 12.5% respectively.

Metals that declined were gold, dropping 4.1%. Nickel was off 4.5% and copper fell 8.8%.

Mineral sales were up. Statistics South Africa said second quarter seasonally-adjusted mineral sales were 2.6% higher compared to the year's first quarter.

Not surprisingly iron ore and PGMs were biggest contributors, up 76.6% and 9.9% respectively.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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