South Africa Gold Mines

South Africa’s gold production dropped 17.7% by volume in September compared to one year ago, according to Statistics South Africa. Total mining production for the month was down 3.5% year-on-year.

South Africa’s mining industry was hit by an electricity crisis earlier this year, with shortages leading to severe blackouts. Production has been falling all year, with total mining production for the the quarter ending in September down 7.1% compared to the same period last year.

The country’s mines were effectively shut down for five days in January when government-owned power company Eskom halted the supply of power. Electricity supplies to mines has resumed at about 95%.

Gold is one of the South Africa’s most important exports, although China recently surpassed the country as the world’s biggest producer.

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