Insight
South African gold mining: a final flourish or structural shift?
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Report summary
The sharp devaluation of the rand since 2012 and in particular from mid-2015 to early March 2016 has resulted in considerable cost savings for miners. This has set the scene for the country's gold sector to produce its largest annual pre-tax free cash flow in over a decade. This is relatively welcome news to the well publicised state of decline in South Africa - where production peaked in the 1970s at approximately 1000t/annum and is forecast at less than 150t in 2016.
Table of contents
- Executive summary
- Cost drivers across the South African gold mining sector since 2012
- Longer term structural trends in productivity and mechanisation
- Conclusions and outlook
Tables and charts
This report includes 7 images and tables including:
- Pre-tax cash flow and year-to-date equity performance of producers with exposure to South Africa.
- Waterfall chart for Total Cash plus Sustaining Capital (TCPS) costs in South African gold mining sector since 2012
- South African inflation, power prices to mining sector, currency movement and cost sensitivity
- Labour costs as a percentage of total minesite costs for South African gold miners
- South African gold mine productivity - temporal trends and estimate for 2016
- Relative share of South Africa's reserves and resources to selected peers and rest of world
- South African gold production and number of workers engaged in gold mining
What's included
This report contains:
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