·According to GlobalData South Africa is the world s eighth largest producer of gold in 2022 with output up by 3% in 2021 Over the five years to 2021 production from South Africa decreased by a CAGR of % and is expected to rise by a CAGR of 4% between 2022 and 2026 In 2022 an estimated 110 metric tons of gold were produced in the
Key information about South Africa Gold Reserves South Africa Gold Reserves was reported at USD bn in Oct 2024; This records an increase from the previous number of USD bn for Sep 2024; South Africa Gold Reserves data is updated monthly averaging USD bn from Dec 1956 to Oct 2024 with 815 observations
·South African gold output has been declining for several decades now From a peak of around 1 000t in 1970 the nation s gold output fell to 130t in 2018 The top six gold producing nations only account for 45% of global gold production compared to platinum for example which sources 98% of its new supply from the top five producing
·South Africa s gold production is in decline with platinum group metals looking increasingly lustrous by comparison and other countries such as Ghana becoming more attractive destinations for gold producers Filip Warwick reports
3 ·A recent GFMS gold survey puts South Africa at the highest end of the cost scale among gold producers but the country s gold mines remain important In 2009 South Africa s gold mining industry earned about $ billion in foreign exchange making it the country s second largest exporter behind platinum group metals at about $ billion
·Gold output fell by a notable % taking away percentage points from overall mining production Iron ore production decreased by % a point deduction coal output dropped by % a
·Gold mine production in South Africa 2010 2023 Mine production of gold in South Africa from 2010 to 2023 in metric tons Metals 3 Premium Statistic Iron ore mine
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