The decreasing importance of gold mining in South Africa. Monthly gold production reached a new monthly low in January, according to data released by Stats SA 1.Although a number of temporary factors might have contributed to the unusually low level, general historical trends show that gold has lost the prominent place it once had in the South African economy.
1 History. The Company completed the purchase of Minera Seafiled SAS from RMB Australia Holdings Limited (RMB) on 20 June 2016. Minera Seafield, now Miraflores Compania Minera SAS (MCM) owns 100% of the Quinchia Gold Project ("Quinchia Portfolio") in Colombia where a NI 43-101 mineral resource of 2.8 million ounces of gold had been estimated.
2. MALDONS MILLIONS by Chris Theyer. Nestled in gentle slopes in a small outcrop of hills the historic town of Maldon lies almost undisturbed by modern man.. Without the electricity poles and the modern vehicles this town could still be taken as a gold town of the 19t
The current turbulence in the mining industry in South Africa has its roots in several different factors. First, the fall in global demand for platinum and other minerals due to recession; second, the consequences of the Marikana disaster in destabilising labour relations; and third, the structural character of our mining industry.