As it became known recently, gold mining in South Africa at the end of July this year again showed a decline. However, at the same time, the country sold 19% more precious metals abroad. This applies primarily to the Krugerrand gold investment coins.
According to the Statistical Bureau of South Africa (Stats South Afrika), the country's gold mining companies were able to produce less yellow precious metal in July compared with July 2018 - a decrease of 13.1%. At the same time, the share of gold in the total mining industry in South Africa fell to 1.9%. The report does not indicate exact numbers, but only percent changes.
It is also worth saying that diamond mining fell more than gold (-39.1%). The statistics also say that South Africa sold + 18.9% more yellow precious metals abroad. First of all, we are talking about the Krugerrand gold investment coin, which is in high demand among investors around the world. But sales of platinum group metals increased even more - an increase of + 38.5% compared to July 2018.