In December 2018, in South Africa, the strongest decline in gold production over the past six years was recorded. It was -31% compared with December 2017.
The fall in gold production in South Africa continues to accelerate. According to the Statistical Service of this country, the decline in production was -31%, which is a record for six years. For the past 15 months in a row, there has been a drop in the production of yellow precious metal in the country.
The entire mining sector in South Africa recorded a decrease of -4.8% in December 2018. Only the extraction of platinum group metals (platinum and palladium) showed an increase of + 6.1%. The Bureau of Statistics of South Africa does not publish exact figures in monthly surveys, it indicates only percentage changes.
The gold mining industry in South Africa is in deep crisis due to rising production costs and a decrease in precious metals in the ore. Companies are forced to drill at 5000 m. To find at least some gold.