Remove ads

Introducing the LemonFools Personal Finance Calculators

South Africa May Run Out of Gold Within Four Decades

CommissarJones
Lemon Slice
Posts: 255
Joined: November 10th, 2016, 9:15 pm
Been thanked: 55 times

South Africa May Run Out of Gold Within Four Decades

#111780

Postby CommissarJones » January 18th, 2018, 11:16 pm

That's according to Statistics South Africa - see the second item in this list of four facts about the nation's economy.

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.

schober
Lemon Pip
Posts: 61
Joined: November 30th, 2017, 11:14 am
Has thanked: 1 time
Been thanked: 17 times

Re: South Africa May Run Out of Gold Within Four Decades

#119533

Postby schober » February 21st, 2018, 8:09 pm

How Close Are We to Peak Gold?
Keith Barron, Chairman and CEO of Aurania Resources explains why he thinks it's close
https://www.financialsense.com/fs-staff ... -peak-gold

dspp
Lemon Quarter
Posts: 2333
Joined: November 4th, 2016, 10:53 am
Has thanked: 1345 times
Been thanked: 410 times

Re: South Africa May Run Out of Gold Within Four Decades

#119543

Postby dspp » February 21st, 2018, 8:34 pm

Interesting. What he omits to say is that mining is very energy intensive, and so sensitive to energy prices. Could be fun to dabble in a gold index :)

regards, dspp


Return to “Mining & Metals”

Who is online

Users browsing this forum: No registered users and 1 guest