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SA gold mines head for slowdown over the next 10 years
According to Jan Nelson, head of Pan African Resources, gold deposits are getting harder to mine every year, and companies are forced to go deeper in search of the ore, while trying to cope with average mining inflation of 14% a year and a challenging union environment, Business Live reports.
Except for the big mining companies such as Anglo that still have high-grade deposits and can afford to go deeper and be more automated, he says, gold mining in South Africa will definitely see a significant slowdown within the next 10 years, according to Business Live.
Now, Nelson says, is a good time to buy. According to Business Live, Nelson's strategy is to pick up high-grade assets that can be mined at low costs. Nelson is not bullish on prices, which is why he believes in high-margin operations.
Read the full article on www.businesslive.co.za
