South African gold ouput plunges most since 2015 in September

Bloomberg/Rene Vollgraff/11-8-2018

“Producers in South Africa, which operate some of the world’s deepest and most labor intensive mines, have been forced to reduce output and cut thousands of jobs as they struggle to contain operating costs. The continent’s most-industrialized economy fell into its first recession in almost a decade in the second quarter.”

USAGOLD note:  One would think that containing operating costs is not a peculiarity to South Africa alone.  With prices at current lows, mines are being pressed on the revenue side of the equation as well.

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