Cabinet says SA opening underground gold mine signals renewed investment opportunities

JOHANNESBURG - With South Africa set to open its first underground gold mine in 15 years, the cabinet said this signals renewed investment opportunities in the dormant sector.

The  $90-million Qala Shallows Gold Project is spearheaded by an Australian-listed company, West Wits Mining.

The project aims to extract about 70,000 ounces of gold a year from the Witwatersrand Basin, located on the western edge of Johannesburg.

At a post-cabinet media briefing on Friday, Minister in the Presidency, Khumbudzo Ntshavheni, said the cabinet has welcomed the renewed investment in the country’s mining sector.

"This investment signals renewed confidence in the potential of new gold projects and reaffirms South Africa as a mining investment country of choice. With production scheduled to begin in 2026, the South African economy will receive a major boost in new jobs, skills development, and economic development."