SA has only 39 years worth of gold left


CAPE TOWN – South Africa is no longer the number one gold producing country in the world, mining analyst and MD at Creative Voodoo, Mamokgethi Molopyane said.

According to Stats SA, at the present production levels, there are only 39 years of accessible gold reserves remaining in South Africa’s mines.

“It would have a negative impact on the mining sector because, to an extent, the gold sector still employs quite a lot of people and the services that stem from the sector filter into other sectors. So it would have a negative impact on the overall employment numbers and contribution to the economy.”

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