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South African gold output falls by 17%

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Commodity Online
South African gold output fell 17.7 percent in volume terms, while overall mineral production was down 3.5 percent in September compared to the same month in the previous year, official statistics said on Thursday.

Production of non-gold minerals declined by 1.2 percent, Statistics South Africa said on its website www.statssa.gov.za

South African mine output has fallen after state-owned power utility Eskom suffered a near collapse in the electricity grid in January.

Eskom has since supplied around 90 to 95 percent power to mines in the country, the world's biggest source of platinum and the second-ranked gold producer.
MCX Silver 05 July 2012 contract was trading at Rs 55888 , up Rs. 493 . What's your view on it?
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