First Comprehensive Review of SA Gold Value Chain is Published
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| Thursday, February 02, 2006 |
Gold in South Africa, the first comprehensive review of the gold value chain in South Africa, from mining and refining through to beneficiation and trade, has been published in Johannesburg today, 2 February 2006.
The publication details the findings of an extensive research programme carried out by Jessica Cross, CEO of Virtual Metals Research and Consulting Limited. Virtual Metals, a UK-based consultancy, specialises in proprietary research covering precious metals, refiners and financial institutions. The research was co-funded by the Department of Trade and Industry, AngloGold Ashanti, the Industrial Development Corporation of South Africa and the World Gold Council.
Gold in South Africa was commissioned to create a source of reference for the industry on the gold business. The scope of the research was ambitious, covering the gold value chain from mining through to the use of gold in jewellery, bars, coins and other applications.
The research relied on primary sources of information where possible, engaging with a broad spectrum of participants throughout the value chain to understand how the gold business in South Africa functions and to gather data on the individual businesses which make up this industry. Existing data sources were analysed as well as the legislative, social and economic framework in which the industry operates in South Africa.
At a function held at the Johannesburg Country Club to mark the launch of the publication, Deputy Minister of Trade and Industry Dr Rob Davies commented: "as we move ahead we need to increasingly think of gold as part of a value chain. The significance of the 'Gold book' is that it does exactly that. It contains authoritative information about the mining of gold. But it also goes further and provides important information about the under researched gold jewellery and gold coin industries in South Africa. It also provides a wealth of information about government policy, both in the area of mining as such, and also in seeking to promote beneficiation.
Government remains committed to evidence based policy making, and I believe that there is a wealth of material in this volume which will contribute to the formulation of good policy in respect of the important challenges of promoting beneficiation and maximizing the returns to all South Africans from this important gold asset."
Cross, who delivered a short presentation highlighting the main findings of her research, said that her research had revealed a local jewellery sector in which there were potential growth opportunities. "These, however, will only come about with active and willing co-operation from the collective participants, both working among themselves and with government."
AngloGold Ashanti's General Manager: Marketing, Thero Setiloane, commented: "In supporting this initiative, our intention was to contribute towards generating informed debate on issues surrounding the future of the gold sector in South Africa - a future we hope will be as vibrant as its past. Gold in South Africa has also shown us that, in this sector, public-private partnerships can be used to build consensus in the industry and contribute towards further sectoral development. "
"Developing the South African jewellery market and optimising beneficiation opportunities is a key focus area of IDC's strategic objectives," said Lumkile Mondi, Vice President of Professional Services and Chief Economist at the IDC.
Gold in South Africa is available in a pdf format at http://www.goldinsouthafrica.com.
Ends
Queries:
Joanne Jones, AngloGold Ashanti
+27 82 896 0306 (mobile)
jjones@anglogoldashanti.com (e-mail)
Sisanda Mtwazi, Department of Trade and Industry
+27 12 394 1132 (office)
sisandam@thedti.gov.za (e-mail)
Dante Mashile, Industrial Development Corporation
+27 11 269 3891 (office)
+27 83 643 1859 (mobile)
dantem@idc.co.za (e-mail)
For further research-related information contact:
Jessica Cross, Virtual Metals Research and Consulting Limited
+27 83 375 0032 (mobile)
+44 207 487 3600
+44 776 833 0031
jessica@virtualmetals.co.uk (e-mail)
Note for editors: CV of Jessica Cross is attached.
Jessica Cross
Chairperson and Chief Executive Officer
Virtual Metals Research & Consulting Ltd, The VM Group and MineLife
London
Dr Jessica Cross is chairperson and chief executive officer of Virtual Metals Research and Consulting Ltd, a London-based precious metals company which she founded in 1997.
In a career which spans nearly 20 years, Jessica has worked as a precious metals commodity analyst for major mining houses including Anglo American plc, Consolidated Gold Fields and RTZ. Her precious metals research is extensive and has included work on the authoritative Annual Gold Survey published by Consolidated Gold Fields, benchmark research into gold derivatives, as well as detailed work into the platinum group metals.
She has a doctorate in Financial Engineering.
The Virtual Metals Group and MineLife
The London-based VM Group was established in 1997 and consists of a small team of highly experienced and specialised professionals who expertise lies in analysing and advising on the international precious metals, base metals and energy markets.
The company's client base consists of 45 world-class companies in mining, refining, banking and asset management as well as various governmental organisations.
The VM team excels in macro-economic analysis, the generation of supply and demand scenarios, costs analysis, derivative research and price forecasting. Confidentiality, experience and independence are key elements of such advisory roles. Our aim is to assist those in need of external expertise, as well as those who wish to supplement their own in-house resources. With our extensive international contacts, we are able to broaden our services through links with experienced associates in related fields worldwide.
In July 2005, the VM Group launched MineLife, a non-profit alliance of mining associates. MineLife, run by the VM Group is a coordinating entity for the mining industry established to channel aid and accelerate socio-economic development in mining communities. This vehicle is intended to maximise efficient delivery to those most in need. |
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