Output figures hit gold companies

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IOL BR mining PIC001 Reuters.

Prices of South African gold mining companies fall following news that wildcat strikes nearly halved output in October.

Statistics South Africa data shows production fell by nearly 46 percent in volume in October, with total mineral production 7.7 percent lower compared with the same month last year.

Gold Fields has shaved off nearly 2 percent to 99.28 rand, while the leading producer AngloGold Ashanti is 1.4 percent lower at 264.37 rand. Harmony, the nation's No.3 miner of the metal, has shrugged off the news to gain 0.35 percent at 69.17 rand. - Reuters


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