South African Gold Rand Price hits R30,000. (USDZAR) Today

South Africa may still have about 36 000 tonnes of gold still in the ground ?
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The gold fields of the Witwatersrand Basin in South Africa is the largest single gold producing district in the world ?
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It has produced some 2 billion ounces and may still have estimated reserves of some 1,161 billion ounces (36,000 tonnes) still in the ground ?
(40% of the global total )
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https://www.geologyforinvestors.com/largest-gold-deposit-world-witwatersrand-gold-fields/
 
goldsilverratio said:
South Africa may still have about 36 000 tonnes of gold still in the ground ?
------------------------------------------
The gold fields of the Witwatersrand Basin in South Africa is the largest single gold producing district in the world ?
---------------------------------------------
It has produced some 2 billion ounces and may still have estimated reserves of some 1,161 billion ounces (36,000 tonnes) still in the ground ?
(40% of the global total )
-----------------------------------------------
https://www.geologyforinvestors.com/largest-gold-deposit-world-witwatersrand-gold-fields/
More...

So that will send the price of gold way way down. Thanks Afrikaaners! Mandela rulez!
 
Update on Large Precious Metals Refineries ?
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Rand Refinery of South Africa now refines over 75% of the gold mined on the African continent (excluding South Africa) ?
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The Precious Metals Refinery has refined over 50,000 tonnes of gold since it first opened in 1921, which is a staggering nearly one-third of all the gold ever mined ?
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The Metals Refinery’s has minted 60 million Krugerrands since 1967 and there
Large Gold Bars are held widely by central banks across the world ?

https://www.bullionstar.com/blogs/bullionstar/the-worlds-largest-precious-metals-refineries
 
Hi,
Today news
The South African rand firmed in afternoon trade on Monday as the government discussed new measures to contain the economic impact of the COVID-19 pandemic, while stocks dipped.

On the other side,
The Johannesburg Stock Exchange's Top-40 index .JTOPI dipped 0.55% to close at 44,797 points, while the All-Share index .JALSHweakened 0.58% to 48,850 points.

Banking shares .JBANK fell 2.19%, with AbsaABGJ.J down 2.15% at 81.51 rand, and FirstRand FSRJ.J falling 1.96% to 36.93 rand.
 
South Africa Mining Output Grows 7% in February ?
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Mining production in South Africa rose 7 percent year-on-year in February of 2020,
following a 7.5 percent surge in the previous month and beating market expectations ?
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Output continued to advance solidly for gold (11.5 percent vs 4.9 percent);
diamonds (25.5 percent vs 18.6 percent) ?
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metallic minerals (13.8 percent vs 10.8 percent)
non-metallic minerals (12.7 percent vs 8.9 percent) ? .... 31 hours ago
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https://tradingeconomics.com/south-africa/news
 
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