creamer media

The year 2011 proved a year of firsts for gold, with the yellow metal reaching record highs of 2 809.5 t, up 4% from the 2010 production figures. Also, the gold price posted its tenth straight year of gains since 2001, benefiting from the global economic uncertainty that prevailed throughout 2011, and continued to prove itself as a currency and store of wealth when it peaked at an all-time high of $1 895/oz on the London PM fix on September 6. However, with the price of gold currently hovering at between $1 540/oz and $1 660/oz, Gold Fields’ CEO Nick Holland recently indicated that a higher price is needed to sustain current mine production.

The report draws on information available in the public domain. The report does not purport to provide analysis of market trends.

Published on: 24 May 2012.

Table of contents

List of abbreviations 1

Key developments 2

Global market 3–5

• Supply 3
• Demand 3
• Price 4
• Prospects 5

South Africa as a mining investment destination 6–7

Major gold companies with operations in Africa 8–26

• Barrick Gold 8
• Newmont Mining 10
• AngloGold Ashanti 13
• Gold Fields 17
• Kinross Gold 21
• Harmony Gold 23

Other gold companies with operations in Africa 27–37

• Randgold Resources 27
• DRDGold 27
• Great Basin Gold 29
• Village Main Reef 31
• Pan African Resources 32
• Gold One 33
• Central Rand Gold 35
• Witwatersrand Consolidated Gold Resources 36

Appendix 38–41

• A. Company information 38

Main sources 42–44