Stats SA wrote:At current production levels, South Africa has only 39 years of accessible gold reserves remaining, whereas the country still has 335 years of platinum group metal reserves and 256 years of coal reserves. This is according to Stats SA’s latest Environmental Economic Accounts Compendium.
The outlook for constraints on production across the gold industry is clearly a supportive part of the backdrop, IMV. From Randgold Resources' annual report for 2016:
Randgold Resources wrote:Cost management continues to significantly impact on gold production. Data produced by SNL Metals and Mining shows that industry-wide all-in sustaining cost has shown a substantial drop since its peak in 2013, and that the continued cuts to project spending imply a constricted pipeline of future gold supply. Future production was also impacted by the gold majors cutting their exploration budgets, particularly greenfield work, in recent years. Gold production is anticipated to drop from 2020.