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South Africa's formal gold sector still churns out about $4 billion in revenue every year. Along with platinum, coal and iron ore, it's an important part of the economy.
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The newest deep gold mine to be developed in South Africa, Target first hit its scheduled mining rate of 17,500t a day in late 2001, and has since been ramping up
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South Africa's Sibanye Gold Limited (JSE SGL NYSE SBGL), which split from Gold Fields in February 2013, held onto its no. 10 position despite a modest loss of ounces.
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Aug 14, 2018South Deep, Gold Field's only mine left in South Africa, was built to target the world's second-biggest known body of gold-bearing ore and slow the steady decline in the country's production.
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About 45 percent of the world's total gold production has been from the Witwatersrand district in South Africa. The largest gold mine in the United States is the Homestake mine at Lead, South Dakota. This mine, which is 8,000 feet deep, has accounted for almost 10 percent of total United States gold production since it opened in 1876.
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