Gold price surge: ‘Everyone is benefitting except us’

702’s John Perlman speaks with Peter Major, Director of Mining at Modern Corporate Solutions.

Listen below:

The surging gold price has pushed South African mining stocks to their best monthly performance ever recorded.

South African platinum producers have also thrived in the past month thanks to a spike in demand for the metal.

According to Major, the improvements in the sector should have led to hiring more miners.

However, he says government's restrictions and red tape have driven many investors away.

“It is all about: If it’s not broke, let’s go break it.”

- Peter Major, Director of Mining at Modern Corporate Solutions

As a result, South Africa is not benefiting from the gold price surge as much as it should have.

“Everybody but us [is benefitting]. We seem to be happy standing in the parking lot and watching everyone else get on board the train.”

- Peter Major, Director of Mining at Modern Corporate Solutions

Scroll up to the audio player for more.

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