Peak Gold Coming as Exploration Dwindles, Randgold CEO Says
- World’s gold output could peak as early as 2019: Mark Bristow
- Miners have replaced less than half of mined ounces since 2000
Investing In African Mining Indaba
This article is for subscribers only.
Peak gold production may be reached within the next three years as miners fail to replace their reserves, according to Randgold Resources Ltd. Chief Executive Officer Mark Bristow.
The lack of new discoveries, cost cutting and miners digging out higher-grade material for a short-term gain, which can subsequently shorten the lifespan of a mine, are to blame for a supply crunch in the industry, Bristow told reporters in Johannesburg on Monday.