South Africa: Gold Output Falls 12.7%
January 10th, 2008They cant just add more zeros in a computer to make more?
* chuckle *
Via: Reuters:
South Africa’s annual gold output fell in November by its biggest margin in seven months, while total minerals production declined 6.4 percent compared with the same month the previous year, data showed on Thursday.
Gold production dropped 12.7 percent year-on-year in November, according to figures from Statistics South Africa, further tightening supplies in the world’s biggest producer of the precious metal.
Gold production has been on a downward slope in South Africa, tumbling by over 50 percent over the past decade, as high-grade mines run out of ore and firms grapple with more difficult and high-cost underground operations.
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