Taking Stock 

Gold miners could profit from a cashless society

Mark Robinson

Gold miners could profit from a cashless society

Last week, the gold price closed out at $1,659 (£1,283) an ounce (oz), a quarter up on 12 months ago. Producers such as Pan African Resources (PAF) have been cranking up sales to exploit the upturn by increasing throughput and optimising their processing operations. Pan African’s raw profits – factoring only mining costs and depreciation – increased by 81 per cent, even though the group had to contend with illegal mining activities and the vagaries of energy supplies under South Africa’s Eskom power utility.

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