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In 1970, South Africa produced 995 tonnes or 32 million ounces of gold, two-thirds of the world's production of 47.5 million ounces. [2] Production figures are for primary mine production. In the US, for example, for the year 2011, secondary sources (new and old scrap) exceeded primary production. [3]
English: This chart shows the nominal price of gold along with the price in 1971 and 2011 dollars (adjusted based on the consumer price index). The historical gold price was obtained from www.igolder.com; CPI was obtained from www.rateinflation.com. The data is in section Chart Data.
These included shells, [1] ingots, gold (gold dust and gold coins (the Asante)), arrowheads, iron, salt, cattle, goats, blankets, axes, beads, and many others. In the early 19th century a slave could be bought in West Africa with manilla currency; multiples of X-shaped rings of bronze or other metal that could be strung on a staff.
Gold prices (US$ per troy ounce), in nominal US$ and inflation adjusted US$ from 1914 onward. Price of gold 1915–2022 Gold price history in 1960–2014 Gold price per gram between Jan 1971 and Jan 2012.
Gold also played a significant role in ancient Egyptian society. It was extensively mined and worked into jewellery, funerary items, and religious objects. The wealth generated from gold mining contributed to the economic and political power of the pharaohs, and gold artefacts have been found in tombs dating back to the early dynastic periods. [7]
A History of the Upper Guinea Coast, 1545–1800 (Clarendon Press, 1970). Rodney, Walter. How Europe Underdeveloped Africa. (Washington: Howard UP, 1982, ISBN 0-88258-096-5) Thornton, John K. Africa and Africans in the Making of the Atlantic World, 1400-1800 Cambridge: Cambridge University Press, 1998
Historical gold production between 1896 and 2008 was 43 Moz at recovered gold grade of 8.1g/t (95% plant recovery). A world class high grade gold deposit remains with existing in situ resources (SAMREC compliant) of 63 Moz, including; - Measured & Indicated resource of 13.6 Moz at 6.7g/t Au - Inferred resources of 50 Moz at 4.92 g/t Au.
Membership of the Association of West African Merchants was made up of the United Africa Company, Union Trading Company), and "Oliphant" (G. B. Olivant). [1] The firms participated in merchandise agreements in Gold Coast. Their participation led to limited competition in the retail sector by determining the minimum prices and commissions. [2]