By William Clowes and Antony Sguazzin
Bloomberg News
via Mining.com, Toronto
Thursday, August 21, 2025
South Africa is set to open its first new underground gold mine in 15 years -- an increasingly rare event for a country that was once the world's largest producer of the precious metal.
West Wits Mining Ltd. plans to start production next year at Qala Shallows on the western fringe of Johannesburg, a city founded during the gold rush that followed the discovery of the Witwatersrand reef in the 1880s. The Australia-listed company will mine ore during the three-year construction period to take advantage of sky-high bullion prices.
... Dispatch continues below ...
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"We are really the only formal company trying to start a new mine" in South Africa's gold industry, chief executive officer Rudi Deysel said in an interview.
The $90 million investment by West Wits will yield a mine with a modest annual output of 70,000 ounces, but it's a bright spot for the nation's dwindling gold sector. After topping the global rankings for decades, South African production has slumped by more than 70% over the past 20 years as its deep, high-cost mines struggle to compete with other producing countries. ...
... For the remainder of the report:
https://www.mining.com/web/south-africa-set-to-open-first-underground-gold-mine-in-15-years/ [2]
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