War Drives South Africa's "Gold Rush" | Firstpost Africa | N18G

When the world feels unstable, people and governments turn to gold. As geopolitical conflict in West Asia and global economic uncertainty grip the start of 2026, the demand for the "safe haven" metal has pushed prices to a staggering record of over $5,000 an ounce. This surge is fuelling a comeback for South Africa’s ageing gold sector. For the first time in fifteen years, a brand-new underground gold mine—Qala Shallows—has opened its doors on the edge of Johannesburg. Tapping back into the Witwatersrand Basin, which has historically produced nearly 40% of the world's gold, this project marks a rare bright spot for an industry many thought was in permanent decline.

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