FX.co ★ South African Gold Production Decline Slows in April 2024

JOHANNESBURG, June 13, 2024 — South Africa’s gold production saw a significant improvement in April 2024, according to recently updated data. The contraction in gold output eased to -1.7% year-over-year, compared to a deeper decline of -4.3% in March 2024.

The data, updated on June 13, 2024, highlights a relative recovery in the gold mining sector for the month of April. This more moderate decline suggests that some stabilization may be occurring within the industry, which has been grappling with various challenges including operational disruptions and rising costs.

While the year-over-year comparisons still reflect a reduction in production levels, the smaller decrease indicates a potential turnaround that industry stakeholders are likely to watch closely. The improved performance in April, although still negative, signals a step toward recovery for South Africa’s gold mining sector.