How South Africa lost its position as the largest gold producer

Discover the news and anecdotes of the gold market

For decades, the very idea of a gold mine was synonymous with South Africa. Indeed, South Africa’s production largely dominated the rest of the world’s gold mining. Between 2007 and 2014, the country went from being the world’s leading producer to 6th place in the world. Even more seriously, Ghana took the first place of African producer. How do you explain such a fall? Political decisions? An unfavorable economic context? A drop in potential?

A decline for 50 years

Looking at South Africa’s production statistics, there has been a drastic drop in mining extraction, even as global demand continues to rise. Thus in 1970, South Africa supplied 1000 tons of gold, while in 2018, the country managed to produce 130 tons. In the period from 2005 to 2019 alone, the drop was 54%. It was in the same year 2019 that Ghana overtook South Africa with more than 142 tons.

Just over the period from 2018 to 2019, we are approaching a drop of almost 20%!

A complicated industrial environment

How can such a situation be explained when specialists believe that the country’s subsoil has not yet finished delivering its gold?

The reality is cruel for the former world leader. The socio-economic environment is not conducive to gold production.

The combination of closure and industrial conflicts has created a situation that makes exploitation inhospitable.

Added to this are resources located at depths that make work difficult and the operating costs so prohibitive that producing gold is more expensive than its selling price.

However, all is not lost for the country, as its subsoil is rich in other mining resources such as copper, manganese, platinum and, of course, diamonds. 

    LET US CALL YOU...

    How South Africa lost its position as the largest gold producer

    WE EXPERTISE AND BUY YOUR GOLD CASH

    GOLD – PLATINUM – TIN – DIAMOND – WASTE – COIN – WATCHES

    20 years of experience & expertise in Gold & precious metals buying

    34 SHOPS AT YOUR SERVICE N°1 IN SWITZERLAND

    F

    Our shops

    BUYINGGOLD.CH NYON

    Rue de la Gare, 39
    1260 Nyon - Swiss
    +41 (0)22 362 01 01

    Location
    BUYINGGOLD.CH GENEVA 1 Train station

    Boulevard James Fazy, 12
    1201 Geneva - Swiss
    +41 (0)22 732 24 24

    Location
    BUYINGGOLD.CH GENEVA 2 EAUX-VIVES

    Av. Pictet de Rochemont, 5
    1207 Geneva - Swiss
    +41 (0)22 740 55 55

    Location
    BUYINGGOLD.CH GENEVA 3 CONFEDERATION CENTRE

    Rue de la Confédération 5
    1204 - Swiss
    +41 (0) 22 810 47 47

    Location
    BUYINGGOLD.CH LE GRAND-SACONNEX

    Route de Ferney 169
    1218 Geneva - Swiss
    + 41 (0)22 362 47 47

    Location
    BUYINGGOLD.CH LE MEYRIN / GENEVE

    Av. de Feuillasse 24
    1217 Meyrin - Swiss
    +41 (0) 22 990 15 15

    Location
    BUYINGGOLD.CH WINTERTHUR

    Obertor 40
    8400 Winterthur - Swiss
    + 41 (0)52 233 62 62

    Location
    BUYINGGOLD.CH BELLEVUE

    Closed
    - Swiss

    Location
    BUYINGGOLD.CH ETOY

    Route Suisse, 10
    1163 Etoy - Swiss
    +41 (0)21 843 12 12

    Location
    BUYINGGOLD.CH LAUSANNE 1 TRAIN STATION

    Avenue de la Gare, 6
    1003 Lausanne - Swiss
    +41 (0)21 323 24 24

    Location
    BUYINGGOLD.CH LAUSANNE 2 TERREAUX

    Rue des Terreaux, 20
    1003 Lausanne - Swiss
    +41 (0)21 323 04 04

    Location
    BUYINGGOLD.CH YVERDON

    Rue de Neuchatel 10
    1400 Yverdon - Swiss
    +41 (0)24 430 44 44

    Location
    BUYINGGOLD.CH Neuchatel

    Rue des Poteaux 3
    2000 Neuchatel - Swiss
    +41 32 724 83 83

    Location
    BUYINGGOLD.CH BIEL

    Zentralstrasse 30
    2502 Biel - Swiss
    +41 (0)32 914 05 05

    Location
    BUYINGGOLD.CH La Chaux de Fonds

    Léopold-Robert 74
    2300 La Chaux-de-Fonds - Swiss
    +41 32 968 42 42

    Location
    BUYINGGOLD.CH VEVEY

    Rue du Conseil, 19
    1800 Vevey - Swiss
    +41 (0)21 922 13 13

    Location
    BUYINGGOLD.CH MONTREUX

    Grand Rue, 84
    1820 Montreux - Swiss
    +41 (0) 22 732 24 24

    Location
    BUYINGGOLD.CH BULLE

    Rue de Vevey, 16
    1630 Bulle - Swiss
    +41 (0)26 919 34 34

    Location
    BUYINGGOLD.CH MONTHEY

    Place de l’Eglise, 5
    1870 Monthey - Swiss
    +41 (0)24 472 44 44

    Location
    BUYINGGOLD.CH MARTIGNY

    Rue de la Poste, 7
    1920 Martigny - Swiss
    +41 (0) 27 722 55 55

    Location
    BUYINGGOLD.CH UVRIER

    Route du Simplon 82
    1958 Saint Léonard - Swiss
    +41 (0) 27 203 49 49

    Location
    BUYINGGOLD.CH SIERRE

    Route de Sion, 21
    3960 Sierre - Swiss
    +41 (0)27 456 74 74

    Location
    BUYINGGOLD.CH FRIBOURG

    Rue Saint-Pierre, 10
    1700 Fribourg - Swiss
    +41 (0)26 495 36 36

    Location
    BUYINGGOLD.CH BASEL 1

    Aeschenvorstadt 36
    4051 Basel - Swiss
    +41 (0)61 283 16 16

    Location
    BUYINGGOLD.CH BASEL 2

    Untere Rebgasse 18
    4058 Basel - Swiss
    +41 (0)61 222 26 26

    Location
    BUYINGGOLD.CH SOLEUR

    Close
    - Swiss

    Location
    BUYINGGOLD.CH ZURICH 1

    Uraniastrasse 40
    8000 Zurich - Swiss
    +41 (0)44 202 17 17

    Location
    BUYINGGOLD.CH ZURICH 2

    Schifflände 16
    8001 Zurich - Swiss
    +41 (0)44 350 47 47

    Location
    BUYINGGOLD.CH LUZERN

    Pilatusstrasse 17a
    6003 Lucerne - Swiss
    +41 (0)41 282 44 44

    Location
    BUYINGGOLD.CH BERN

    Gurtengasse 6
    3011 Bern - Swiss
    +41 31 318 86 86

    Location
    BUYINGGOLD.CH LUGANO

    Via al forte 10
    6900 Lugano - Swiss
    +41 (0)91 921 07 07

    Location
    BUYINGGOLD.CH SAINT-GALL

    Spisergasse 23
    9000 St. Gallen - Swiss
    +41 (0)71 446 27 27

    Location
    BUYINGGOLD.CH LOCARNO

    Via della posta 6
    6600 Locarno - Swiss
    +41 91 751 47 47

    Location
    BUYINGGOLD.CH LE BELLINZONA TICINO

    Via Teatro 9
    6500 Bellinzona - Swiss
    +41 (0)91 825 18 18

    Location
    BUYINGGOLD.CH BUS

    On Call
    we move in all Switzerland
    +41 (0) 22 362 01 01

    Location
    All shops