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South Africa’s gold output continues to fall

Posted on 15 March 2011

From Mineweb.co.za: South Africa’s gold production fell 6.4 percent in 2010, an industry body said on Monday, moving the country further away from its former status as the world’s largest producer. Gold output fell to 191,833.7 kilograms in 2010, the Chamber of Mines said in a quarterly statement.
“Our mines are getting deeper and deeper, we cannot compete with other countries like Russia which can produce gold at a lower cost than what we can,” said Abri du Plessis, chief investment officer at Gryphon Asset Management……………………………………….Full Article: Source


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