Shunned by investors due to mines that are old deep and difficult to extract the countrys gold miners have traded at a discount to their global peers for years.
Higher prices as spot gold XAU roared past 2 000 an ounce for the first time coupled with a weaker rand currency comes as a lifeline.
Interviews with companies executives analysts and fund managers show that higher gold prices could see some local miners bring their net debt to zero and pay healthy dividends over the next 18 to 24 months.
Gold mining companies will spew a lot of cash in the next 12 months said Franco Lorenzani an independent mining analyst.
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Higher prices have also made more marginal ounces profitable for Sibanye spokesman James Wellsted told Reuters adding the company was looking at other ways to benefit from favourable market conditions.
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Pan African Resources PAFR L is hoping to be net debt free by June 2021 and plans to increase its dividend payout to 5 from 1 last year its head of investor relations Hethen Hira said Its net debt dropped 49 to 62 5 million at end December.
Dec 23 2018nbsp018332In 2001 when the gold price was just 272oz gold mining companies had cash costs of 176 an ounce giving a 54 margin However by 2006 the gold price climbed into the 600 an ounce range and.
Aug 07 2020nbsp018332Gold mining companies will spew a lot of cash in the next 12 months said Franco Lorenzani an independent mining analyst Whenever the gold prices.
Aug 31 2020nbsp018332U S sanctions and a collapsing oil industry are prompting Venezuela to step up its push into gold mining including in protected areas of the Amazon The amount of land used for mining.
Although many miners use mercury in artisanal and small scale gold mining it is possible to safely and economically recover gold without it Mercury free techniques are safer for miners their families and local communities They may also help miners market their gold at higher prices.
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