SOUTH AFRICAN MINING Message Board

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Gold/Mining/Energy : SOUTH AFRICAN MINING

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To: H.W.Melle who wrote (96)	8/11/1998 4:52:00 AM
From: sea_urchin	of 472

Hello Horst: Actually there's very little concern in SAf for what has just occurred in Nairobi and Dar-Es-Salaam. Certainly, that's what I detect. I would guess the main reason being that the ANC government is cosy with all the radical Muslim countries like Libya, Syria, Iran and Iraq. Arafat is here right now on an official visit. And, the US adopts a very low profile in this neck of the woods. Also, we are up to our necks with our own problems and I guess don't have time to bother with other people's. Sorry, but I can't tell you too much about Y2K. If you feel it will have an impact here then I'm sure it will. I would guess that Y2K is the LAST thing that the gold mines are thinking about. Most important being the gold price, the value of the Rand and the cost and productivity of labor. Anarchy and social unrest will not have a big effect on the mines --- even a big "revolution". The low gold price and high cost of labor have absolutely smashed up the marginal gold mines and caused the rich ones to close/sell all their marginal shafts.

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