Once-mighty SA gold sector faces steady decline

Jul 31 2018 06:41

Felix Njini and Samuel Dodge, Bloomberg
Johannesburg, Africa’s richest city, was built with profits from gold seams running through the region. Today, the country’s gold-mining industry seems headed for a decline, with output dropping for an eighth straight month through May, as aging infrastructure, depleted reserves and accidents raise costs and curb volumes.
Gold Fields’ huge, but problematic, South Deep mine could help slow the contraction – if the company can turn it around.

 

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