Re: South Africa gold output plunges by 14%.?Inca

HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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donypee

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Re: South Africa gold output plunges by 14%.?Inca

in response to

South Africa gold output plunges by 14%.

Inca

posted on Jan 19, 2009 04:22AM

S-Africa gold production sank to a provisional 232 tonnes,down 38 tonnes on 2007,amid severe power supply limitations,an industry-wide skills shortage and an overhaul of mine safety procedures.

Graham Briggs,ceo of Harmony,the world's ninth biggest producer and one of S-Africa's three gold majors,said he saw little prospect of a sharp revival in the country's gold production.

To build a deep mine these days needs massive capital.That is not likely to happen in the future,said Mr Briggs

This may be the major reason one or more of these producers may want to control the ROF. Looks like Xtrata need it most though.