South Africa’s diamond mining production dropped 12.6 percent year-on-year in November 2011 when compared with the same period in 2010.
Statistics South Africa reported that diamond production also fell by a seasonally adjusted 12.6 percent month-on-month in November.
Meanwhile, the country’s overall mining production dropped by 4.6 percent year-on-year in November, compared with a decline of 12 percent in October.
However, mining output increased by a seasonally adjusted 11.2 percent month-on-month in November – the strongest growth rate since April 2008.
The month-on-month production improvement comes on the back of a 23.4 percent increase in platinum-group metals production, which fell by 19.4 percent the previous month.
Nedbank said in a statement that mining production would likely remain weak in the months ahead due to poor growth prospects.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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