SA’s presence in the global supply of gold continues to diminish, with its dominance as a source of revenue for the country for more than a century a rapidly receding memory. A report from BMI Research, a Fitch Group company, said SA’s gold production would increase to 5.1-million ounces in 2021 from 4.9-million ounces in 2017, but its global contribution would fall to 4.6% from 5.6% in the past five years. It said SA’s gold production would increase due to rising prices, which would improve gold miners’ margins, but growth would be hampered by continuing labour unrest and power shortages. "Major miners in the country continue to scale back operations and look abroad to invest," it said. MINES UNBUNDLED Harmony Gold is investing tens of millions of dollars in Papua New Guinea and is looking for an operating gold mine in Africa or Papua New Guinea. Gold Fields unbundled three of its deep-level gold mines into Sibanye Gold, which itself has invested heavily in platinum in SA and Zimba...
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