MINING.COM Staff Writer

Posts by MINING.COM Staff Writer:

South Africa mining sector outlook worsens

Business Live reports the outlook for the South African mining sector has worsened in recent weeks, economists from Nedbank said on Thursday. According to Statistics SA, growth in mining production slowed to 9.6% year on year (y/y) in May from 12.0% y/y in April. Gold output fell by 5.8 % y/y and was down by a seasonally adjusted 3.6% month on month (m/m), while non-gold output was dragged down by declines in platinum group metals, which declined 9.9% m/m, and coal, which was 6.3% lower m/m.
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Gold price steadies as inflation revives higher-rate bets

Gold prices consolidate near $4,700/oz as US consumption slows, aligning with market expectations.