The narrative in favour of dedollarisation implies that gold is key to central bank policy, hence the increase in the gold price (“Reimagining Brics — economic sovereignty versus a unified currency”, September 12).
SA has already mined more than 100,000 tonnes of gold from the Witwatersrand and it is estimated that there is at least another 100,000 tonnes still in the ground. The Central Rand from Boksburg to Roodepoort has already been assessed for mining as Project Argonaut in the 1990s, with proven down dip continuity having reprocessed much of the historical sampling from the many mines that created Johannesburg.
This mineral resource will stay in the ground under an ANC government, thank goodness. However, given the sheer magnitude of the Witwatersrand and that there are 3.2-billion ounces still available in SA, we should be leading the gold dedollarisation, not sitting as the “S” at the end of the Brics acronym.
Andy Clay
Via email
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