Gold mining output woes continue

DRDGold has become the latest mining firm to report a drop in gold output, those investing in gold might be interested to know.

The South African firm announced in its fourth quarter statement release that it suffered a 13 per cent drop in gold mining production during the financial period, primarily due to stoppages following a fatal incident at one of its complexes.

A number of mining firms have reported lower gold output in recent weeks, with more predicting further losses as a result of the power outages that have affected mines in South Africa.

Elsewhere in the world, Chinese firm Sino Gold has confirmed that it lost some 7,000 ounces of gold production as a result of power restrictions at its Jinfeng mine.

Supply shortages have been cited by analysts as one of the key factors that could help to push gold bullion to new highs this year.

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