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south african mining industry price of gold and platinum

Platinum Outlook 2019: Demand Decline to Dampen Prices

The price of platinum dropped almost 16 percent in 2018, ... chiefly from the South African mining sector, coupled with rising demand." ... such as gold. "Given the PGMs industry's ...

Mining industry of South Africa - Wikipedia

Mining in South Africa was once the main driving force behind the history and development of Africa's most advanced and richest economy. Large-scale and profitable mining started with the discovery of a diamond on the banks of the Orange River in 1867 by Erasmus Jacobs and the subsequent discovery and exploitation of the Kimberley pipes a few years later.

Mining and minerals in South Africa

The graphic below shows the year on year growth rates in the prices of gold and platinum, and the year on year growth rates in South Africa's economy (GDP). Note the GDP growth rate has not been adjusted for inflation, as the platinum and gold prices has not been adjusted for inflation either. This makes the growth rates more comparable.

Gold Price South Africa

Gold Price South Africa. South Africa lies at the bottom tip of the African continent and is known officially as the Republic of South Africa. The country has nearly 2000 miles of coastline running along the Atlantic and Indian Oceans, and shares land borders with several nations including Namibia, Botswana, Zimbabwe, Mozambique an Swaziland.

What is the outlook for Africa's mining industry ...

Dec 11, 2017· Though the continent initially garnered fame for its gold rushes and diamond mines, the African mining industry has since become one of the world's largest producers of metals such as platinum, copper, iron ore and uranium, among others. But what is the forecast for Africa's commodity market in 2019 and beyond?

SA's mineral resources. How much is left? - SOUTH AFRICAN ...

And while only a few of the main commodity groups are highlighted South Africa sells a large number of commodities. And a lot of people think that Gold and Platinum is the main income earner for South African mining companies. The following graphic we developed 10 May 2016 and it shows the Rand value of sales of various commodities

The TB epidemic spreading through South Africa's mines

Mar 03, 2014· The industry employs over one million people and accounts for 18% of South Africa's GDP. "The mining industry, in particular gold and platinum, has some of the highest rates of TB in the world, if not the highest," says Aeras vice president of external affairs Kari Stoever.

Platinum Coins from South Africa | Buy Platinum ... - APMEX

Get your Platinum Krugerrands first at APMEX. These Platinum coins from South Africa are sure to please investors and collectors alike. Buy Platinum coins from South Africa online at APMEX.

The case for investing in platinum – MINING.COM

May 29, 2018· The cost of platinum has dropped to a level that it's getting very hard to mine it economically and then you're seeing these social shifts occurring right now in South Africa …

Mining: winners and losers of 2017 | Statistics South Africa

1 Download the December 2017 release of Mining: Production and sales here. 2 The decreasing importance of gold mining in South Africa (read here). 3 Environment economic accounts compendium, 2017, Table 4.9 (download here). More information on jobs in the mining industry can be found here.

Platinum seen contributing as much to South Africa's ...

Unlocking sales of $35-billion a year by 2050 would mean that the platinum mining sector could add as much value to investment, exports and gross domestic product as the gold mining sector did in ...

Platinum: Learn How To Trade It at Commodity.com

Platinum mining is also far less efficient than gold mining. The process of extracting the metal from ores can take five to seven months and may require ten tons of ore to yield one ounce of platinum. The cost of mining an ounce of platinum is nearly twice that of mining an ounce of gold.

World Platinum Investment Council - Supply & Demand ...

Total global demand for platinum is expected to increase by 8% in 2019 on the back of a strong increase in investment demand. Supply is expected to rise by 4% this year. However, potential power disruptions and industrial action represent risks that could materially reduce South African mining …

Gold – MINING.COM

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Platinum PRICE Today | Platinum Spot Price Chart | Live ...

Jun 28, 2019· For a long time, platinum was the most expensive of the precious metals and was traded at prices of over 1,000 US dollars per troy ounce. However, it has since been replaced in this position by gold.

Victim of its own success? The platinum mining industry ...

The South African platinum mining industry may be conceived as a specific subsector of the MEC whose trajectory has been shaped by that which is specific to it, and by the changing dynamics and structures of the wider system of accumulation in which it is embedded. Although the commercial mining of platinum began in South Africa in the

This is Gold

The gold mining industry plays an important role in the lives of employees, communities and the country as a whole. This is Gold is an initiative begun by South African gold producers to provide insight into the gold industry, and its contribution to South Africa.

Platinum Mining in South Africa - Projects IQ

South African platinum mines in stages. Over 170 companies rely on Africa Mining IQ subscriptions to help them drive business within the African mining industry. This is why: The platinum mining industry in South Africa increased production from 163 tons in 2010 to almost 200 tons in 2017, with total sales of over R9 billion.

The 10 Biggest Platinum Producers - The Balance

The company extracts precious and platinum group metals as by-products from its mines on the Taimyr and Kola Peninsulas (both in Russia) as well as from mines in Botswana and South Africa. Norilsk, Russia's largest mining company, also extracts and refines cobalt, silver, gold, tellurium, and selenium as …

v116n3a10 Trends in productivity in the South African …

South African gold mining industry due to their level of market capitalization. However, Trends in productivity in the South African gold mining industry by P.N. Neingo* and T. Tholana* /6(171 Mining companies globally are currently facing severe economic and financial challenges. In addition to global challenges, the South African

Gold - Minerals Council South Africa

At the same time, the gold price had dropped significantly from the previous highs, and the global economy hit headwinds, culminating in the global financial crisis in 2008. Although the crisis has eased in many countries, the effects on the South African mining industry have been profound and enduring.

Infographic: Platinum mining in South Africa stats ...

May 20, 2014· It's been 17 weeks since the wage strike in South Africa's platinum sector began, making it the country's longest and costliest strike, yet there is still no end in sight. Workers downed tools on 23 January 2014 at the country's major producers, including Anglo American Platinum (Amplats), Impala Platinum (Implats) and Lonmin. Local union Amcu […]

Mining | Fin24

Mining Over 3 000 gold mine workers affected by Sibanye-Stillwater restructuring Jun 05 2019 11:38. Sibanye-Stillwater has concluded the consultation phase of restructuring that will affect over 3 000 employees and see Beatrix 1 and Driefontein 2 shafts placed on care and maintenance, while Driefontein 6 and 7 shafts and Beatrix 2 plant will be closed.

South Africa's gold industry, like its economy, is ...

South Africa's formal gold sector still churns out about $4 billion in revenue every year. Along with platinum, coal and iron ore, it's an important part of the economy.

Mining | Fin24

Mining Gold gains to near highest since 2013 as bulls 'back in control' Jun 24 2019 09:11. Prices extended their advance above $1 400 an ounce, near the highest level since September 2013, after the Federal Reserve and other central banks turned more dovish on monetary policy. SA gold slump continues as annual production falls by 19.5%

2014 South African platinum strike - Wikipedia

Platinum prices have been flat since 2009 or so, due to weak demand for catalytic converters, the primary use of platinum in industry. Meanwhile, other costs have risen, putting pressure on the mining industry. In 2013, roughly half of South Africa mining shafts operated at a net loss.

SA platinum miners "dysfunctional" says JP Morgan - Miningmx

Apr 24, 2018· South Africa's platinum miners resemble a "dysfunctional oligopoly" and are currently increasing supply despite depressed platinum prices with no meaningful improvement in the situation expected until 2020. That's the view of JP Morgan Cazenove in its latest review of the SA platinum …

SA's platinum industry unlikely to meet demand for supply ...

Platinum miners' struggles are not dissimilar to those flowing throughout the South African mining industry – cost pressures, substantial declines in commodity prices, and low or negative profit margins. Supply and demand. South Africa provides more than 70% of primary mined platinum supply and more than 55% of total supply, including ...