2. JOHANNESBURG – Steps must be taken to halt the rapid decline of South Africa’s
crucial gold-mining industry, economic strategist Chris Hart urged on Thursday.
Hart, who was delivering the keynote address at the Tenova Mining & Minerals
Symposium in Johannesburg, warned that if steps were not taken timeously, the
industry on which the South African economy had been founded would be in
danger of losing its critical mass.
Conversely, if the country set out to save the gold-mining industry, it stood to
benefit from gold's pivotal economic contribution for another 100 years.
South Africa, the Investment Solutions chief strategist pointed out, had fallen
from being the world’s biggest gold producer to the number six position, despite
still having an abundance of gold reserves in the ground.