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South African gold industry fading as margin squeeze erodes output

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Members of the South African National Union of Mineworkers from the gold mining sector, demonstrating in front of the South Africa Chamber of Mines on Sept 5 in Johannesburg.

Johannesburg

SOUTH Africa's gold mines, the deepest and among the oldest in the world, are in big trouble.

The four largest producers in the country are losing money on about 35 per cent of production at current prices, according to company data compiled by Bloomberg. At the same