The Ongoing Destruction Of South African Gold And Mineral Mining Continues In October

The South African government has released fresh statistics that dovetail nicely with a current topic of fascination — peak gold, the ongoing and permanent decline of global gold production.

South Africa is the world’s #1 gold producer, but its production of gold, and as this data shows all minerals, has been on the decline for some time.

From the perspective of world mineral values, this would seem to augur tigher supplies (and higher prices?) going forward, but beyond that it would also appear to be a major headwind for South Africa — one of Africa’s brightest lights going forward.

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And here’s the visual for total mining

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