Rockwell Releases Update On South African Projects
News: Canadian mining company Rockwell Diamonds has released an update on development work at its alluvial projects in the Middle Orange River region of South Africa, Mining Weekly reports. The company stated that it has developed two new mines that will increase its average production to around 360,000 square metres (sq m) per month and that further improvements will be introduced shortly. The company is aiming to increase its prod uction in the region to 500,000sq m per month.
BMI View: The past decade of stagnation in South Africa's mining sector is set to continue as the country's gold and platinum sectors face diminishing margins and industrial strife. Potential for growth in the iron ore and coal sectors constitute bright spots for the mining industry in the long term. We expect South Africa's mining sector value to grow by an annual average rate of 0.5% over the forecast period, from US$32.4bn in 2013 to US$33.1bn in 2017.