The Cost of a KG of Gold in South Africa

 

Diamond and gold production are now well down from their peaks, though South Africa is still number 5 in gold but remains a cornucopia of mineral riches. It is the world’s largest producer of chrome, manganese, platinum, vanadium and vermiculite. Also,  the majority of the country’s gold resources are located in the Witwatersrand Basin, one of the world’s largest gold placer deposits. This underground geological formation surfacing in the Witwatersrand is a 56 kilometre-long north-facing escarpment running from east to west.

 

How much is gold worth per gram in South Africa?

In South Africa, the current price per gram of gold is ZAR 943.41.

 

When was Gold discovered in South Africa?

The discovery of Gold in South Africa is four major phases:

• The first stage covers the period from first discovery in the 1880s to the Union of South Africa in 1910. The period is marked by rapid growth in gold mining activities, both in the area around Barberton as well as the Witwatersrand, and interrupted only by the Anglo Boer War from 1899-1902.

 

• The second phase, from 1911 to 1950, is characterised by slowing growth rate, largely due to the outbreak of the First World War, the Rand Rebellion in 1922, the effects of the Great Depression in the late 1920s, and finally the Second World War. Gold production in this phase peaked at approximately 450 tonnes in 1941.

 

• During the third phase, South Africa’s gold production grew remarkably from 400 tonnes in 1951 to 950 tonnes in 1965, through new goldfields in Carletonville, Klerksdorp, the Free State and Evander areas becoming operational.

 

• Apart from the period 1966 – 1970, the fourth phase is characterized by a general decline in mining production, from 1 000 tonnes of gold mines in 1970, to 100 tonnes in 2021.

 

Where can I buy Gold in South Africa?

Here are the places you can buy gold in South Africa:

• ISA GOLD (PTY) LTD 

Address: 11 Alice Ln, Sandhurst, Sandton,2196, South Africa.

Phone: +27 74 321 5888.

• Investgold 

Address : 5th on Atrium, 2nd floor West Towers, 5th St, Sandton, South Africa.

Phone: +27 11 486 1196.

• Gold Capital

Address: Ground Floor Illova Junction Centre CNR Oxford Rd &, Corlett Dr, Illovo, Sandton,2196,South Africa. 

Phone : +27 11 447 4522.

• GOLD RUSH GOLD EXCHANGE 

Address: Orchard Shopping Centre, Mbombela,1200, South Africa.

Phone: +27 79 454 9800. 

• The Gold Guys 

Address:1st floor, 3 Sturdee Ave, Rosebank, Johannesburg, 2196, South Africa

Phone: +27 82 044 2044.

 

The Gold Exchance Gold Buyers(Pot of Gold)

Address: 9 main Rd, Melville, Johannesburg, 2109, South Africa.

Phone : +27 82 338 7622 

 

Do you need a license to buy and sell gold in South Africa?

In South Africa, If you want to conduct precious metal operations you are required to obtain a mining permit from The South African Diamond & Precious Metals Regulator (SADPMR).