SA’s next gold rush may come from reworked dumps and old mines
There are millions of ounces in old workings that suddenly look attractive at current prices.
PwC’s SA Mine 2026 report holds out the tantalising possibility that South Africa cannot yet be written off as a global force in gold.
Millions of ounces remain trapped in old underground workings, in pillars, dumps and overlooked reef extensions. Some of them are kilometres underground. At current prices around $4 200 an ounce, many of these neglected ounces suddenly look attractive.
