South African gold output surged the most in four years in December, providing an unexpected boost for the country’s mining production.
Gold output rose by 24.9% from a year earlier, compared with a revised 4.5% in November, Pretoria-based Statistics South Africa said Thursday in a statement on its website. That was the biggest increase since January 2016 and helped total mining production to grow by 1.8%, the first expansion in five months. The median estimate of five economists in a Bloomberg survey was for total output to contract by 3.5%.
(By Prinesha Naidoo and Felix Njini)