19
November
South Africa's gold resources said vastly overstated
19 November 2009 Mineweb
The apparent bottom line in a paper published in the South African Journal of Science is that South Africa's gold industry is on final deathwatch, despite claims of massive existing below-ground reserves. Chris Hartnady, research and technical director of Cape Town earth sciences consultancy Umvoto Africa, has found that South Africa's Witwatersrand goldfields are around 95% exhausted, and anticipates that production rates should fall permanently below 100 tonnes a year within the coming decade.
http://mineweb.co.za/mineweb/view/mineweb/en/page34?oid=93062&sn=Detail
