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Strong rand eroding South African gold mines’ margins
And, underground rail transport at local mines not being prioritised
While the strengthening of South Africa’s rand against the dollar in recent months has been widely welcomed by many, it has somewhat dampened the outlook for exporters and mining firms reliant on a weakened currency to widen margins.
DRDGold CEO Niël Pretorius:
Underground rail infrastructure at South African mines is not operating at its full potential, predominantly owing to poor track-system choices and a lack of critical maintenance.
WSP Africa technical director of rail transport and infrastructure Gavin Higgs:
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