Let’s make the most of the favourable gold price situation while it lasts
South Africa should go all out to produce as much gold as it can while the good gold price lasts. The five main remaining gold mining companies should be focusing inward to take full advance of growth opportunities. The huge mistake past mine majors made of closing gold mines too soon must not be repeated as too much value has been left behind.
That has given rise to highly dangerous and illegal zama-zama mining in old mines. That should never have been made possible. With the gold price this good, maximum volume must be got out of gold mines still on the go and projects that now make economic sense must be taken forward as quickly as possible.
Should the gold price get even better, as is being forecast by some credible analysts, current gold mining companies linked to dangerous derelict mines that have been flooded should consider turning them into power stations as partial recompense for premature closure.
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