(PDF) Gold Production's Economic Impact in South Africa

The economic dynamics surrounding gold production in South Africa are evaluated, particularly concerning rising demand pull inflation linked to international gold prices. Key factors influencing inflation include money supply, exchange rates, foreign income, and political stability. While a depreciated Rand increases raw gold supply, the ...

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Why did South Africa stop producing gold?

Why did South Africa stop producing gold? South Africa's gold production declined due to a combination of closure, maturing assets, and industrial strife, which created an inhospitable operating environment. Even the leading gold miners headquartered in South Africa are now focusing elsewhere. However, according to the US Geological Survey, the country still …

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Turning South African History Upside Down: Ivory and Gold Production

In any long-term view of African history, European rule becomes just another episode. In relation to wars and conflicts of people, the rise and fall of empires, linguistic, cultural, and religious change and the cultivation of new ideas and new ways of life, new economic orientation… in relation to all these, colonialism must be seen not as a complete departure …

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Gold Production Over the Past and Next 25 Years

Historically, global gold mine production was dominated by South Africa, the United States, Australia and Canada. In 1995, these four countries accounted for 56% of annual gold production (GFMS – Gold Survey).

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The future of gold in South Africa

Fast forward to today: South Africa currently holds over 50% of all gold reserves, with the Witwatersrand Basin being the world's largest gold resource. According to GlobalData, South Africa is the world's eighth-largest …

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Brief history of gold mining in South Africa

Chamber of Mines (now Minerals Council South Africa) founded 1890 South Africa began to slow down in the 1880s, as the new deposits being found tended to be pyritic ore and gold could not be extracted from this compound with any of the then available technologies. John Stewart MacArthur and the Dingus brothers overcame this by suspending the ...

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South Africa Gold Mining Market: Key Trends & Insights 2024

Gold production in South Africa has been experiencing a severe downward trend for many years, primarily due to rising mining costs, union strikes and power disruptions. In mid-2018, the South African Mineral Council stated that over 75% of domestic gold mines were unprofitable, due to the increasing cost of underground mining. ...

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South African mining employs many and may only …

South Africa's overall mining profits slipped by more than $5 billion in the last financial year. A new report says the country's once-dominant gold production industry might have less than 30 years of viability without renewed …

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Biggest Gold Producing Countries in Africa

Despite the country's diminishing production, South Africa is still estimated to hold 6,000 tons of gold, the second largest reserve-base in the world, with new exploration campaigns having recently been launched to …

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Biggest Gold Producing Countries in Africa

Accounting for 4.2% of global gold production, South Africa's gold production was reported at 100 tons in December 2021. Despite dwindling production in recent years, causing the country to lose its top spot to China in …

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Mponeng Mine | South Africa | Underground | Harmony

Operating performance FY24. Mponeng was the group's largest gold producer, contributing 18% of total production. The operation has been mining through high-grade areas on both the eastern and western blocks on 123 and 126 levels and as a result saw an 18% increase in the recovered grade to 9.94g/t for FY24 (FY23: 8.43g/t).

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South Africa's gold production and reserves

It currently cites South Africa's gold reserve as ~6 000 t [ref. 8, p. 73], rather than the 36 kt 'reserve base' figure generally cited in South African government yearbooks. 1 The gold reserve figure derived here is thus less than half of the current USGS estimate, and places South Africa only fourth in world rank, after Australia (5 000 t ...

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The Decline of South African Gold Mining

A recent GFMS gold survey puts South Africa at the highest end of the cost scale among gold producers, but the country's gold mines remain important. In 2009, South Africa's gold mining industry earned about $6.35 billion in foreign exchange making it the country's second largest exporter behind platinum group-metals at about $7.6 billion.

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Gold

Gold production of 84 tonnes; At the current gold price more than half of the South African gold mining industry is marginal; Location and geology. The Witwatersrand gold-producing area in South Africa is underlain by an underground geological formation also known as the Witwatersrand Basin. It lies on the Kaapvaal Craton, and is one of the ...

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South African gold loses its shine

Back in 2017, gold production numbers still presented South Africa as the continent's top gold producer with output of 4.4 million oz, according to the Minerals Council South Africa. Nevertheless, the West African gold mining hub was clearly making concerted efforts, with Ghana producing 4.22 million oz, according to Ghana's Chamber of Mines.

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South Africa's gold production and reserves

Peaking at a production output of 1000 tonnes of gold mined in 1970 [1], South Africa was one of the top gold producers globally but has since battled to remain in the top 10 goldproducing ...

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Statistical analysis of gold production in South Africa using ARIMA

The South African gold production data do not show any erratic variation with time, except in 2009, suggesting minimal impact from exogenous factors (Fig. S1). The 2009 jump was associated with the global recession. Hence, we assumed that the production trend is controlled mainly by intrinsic factors such as declining ore grade, and challenges ...

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South African mining employs many and may only have decades …

South Africa was the world's top gold producer until the mid-2000s and is now ranked No. 8. The output from South Africa's 130-year-old gold mining industry has been slumping for more than 20 years. PwC said many of the country's existing gold mines are expected to end production in the next two decades without further commitment.

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South Africa

By 1899 the gold industry attracted investment worth £75 million, produced almost three-tenths of the world's gold, and employed more than 100,000 people (the overwhelming majority of them Black migrant workers). …

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South Africa Gold Production, 1990 – 2025 | CEIC Data

101 rowsSouth Africa Gold Production data is updated yearly, averaging 252,598.000 kg from Dec 1990 to 2024, with 35 observations. The data reached an all-time high of 619,201.000 kg in 1993 and a record low of 88,883.000 kg in 2022.

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The future of gold in South Africa

Over the five years to 2021, production from South Africa decreased by a CAGR of 5.66% and is expected to rise by a CAGR of 4% between 2022 and 2026. In 2022, an estimated 110 metric tons of gold were produced in the country. Gold production in South Africa decreased significantly compared to 2010, with a volume of 189 metric tons.

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Top 5 Africa gold producers in 2023

South Africa's gold production has seen a year-on-year increase of 2.2 per cent as of October 2023. In 2022, crisis-saddled Sudan's gold production was reported at 50,000.000kg. An in-depth exploration of the top …

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The stunning collapse of gold production in South Africa

Statistics South Africa newly released data says gold production during the last three months was down 5.9%.From Nov 2014 to Jan 2015 the seasonally adjusted base was 74.4 compared to 79.1 that ...

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Economic Impacts of Gold Production in South Africa

South Africa Department of Minerals and Energy (2007). South Africa is estimated, by the US Geological Survey, to have 6000 metric tons of gold reserves. A full 95% of South Africa's gold mines are underground operations, reaching depths of over 2.5 miles. Coupled with declining grades, increased depth of mining, and a slide in the

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Gold in South Africa: Lessons from the Apartheid Era

Witwatersrand. In 2018, South African gold production had been eclipsed by Ghana. This is part of South Africa's long relative decline just as its GDP was surpassed by Nigeria in 2013. 2 Much has been written about the relative decline of gold production in South Africa and has been discussed

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Trends in productivity in the South African gold mining industry

Over 95% of South African gold production is from underground mines (Neingo and Tholana, 2016). Sediments of the Witwatersrand Basin contain high concentrations of uranium, U, up to 1000 ppm in ...

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South Africa Gold Production by Year

Line chart and table showing Gold Production by Year (Kilograms) in South Africa

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Gold production in Africa | TheGlobalEconomy

Gold production in kilograms, 2022: The average for 2022 based on 34 countries was 19403 kilograms. The highest value was in South Africa: 88883 kilograms and the lowest value was in Burundi: 42 kilograms. The indicator is available from 2001 to 2022. Below is a chart for all countries where data are available.

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Statistical analysis of gold production in South Africa using ARIMA

South Africa's gold production data (1990–2022) was acquired from the Minerals Council Facts. Results. The results of the models are presented in Fig. 4. The ARIMA (1,1,0) model showed the best goodness-of-fit results with RMSE of 7.30 for the training dataset and 2.75 for the testing data, outperforming the other models (Table 6). The ARIMA ...

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Gold Fields faces production decline at South Deep amid rising …

Gold production from the South Deep mine operated by Gold Fields in South Africa declined by 17% to 8.3 tons in the full year to December 2024 as a result of low volumes and …

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