South African Gold Miners Pivot to Shallow Operations
South African miners are focusing on shallow projects as record gold prices fail to spur deep-shaft investment. Output is forecast to stay near 90 metric tons.
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Record gold prices are pushing the mining industry in South Africa to adopt new strategies for metal recovery, moving away from the high-cost, deep-shaft mining that has historically characterized the region. While global competitors like Barrick Gold Corporation monitor the rising market, South African executives warn that these record prices are unlikely to trigger a production boom or reverse the long-term decline of the world's former top producer.
