Africa is a continent full of wealth and riches, which mostly comes from its abundance of natural resources and minerals, including diamonds, oil and gold. However, like every other continent in the world, there are few cities where the fortunes are on a different level, and this city is so rich that it is dubbed the “City of Gold.”
Johannesburg is Africa’s richest city, boasting over 12,000 millionaires. The city, which is the capital of the Gauteng province, could credit its wealth to a number of things, including being the economic and financial hub of South Africa. However, Johannesburg’s fortunes can be tracked right back to its initial discovery. Johannesburg was discovered in 1886, following the discovery of the main Witwatersrand gold reef, which today houses the world’s deepest mine.
The Witwatersrand, known locally as the Rand and sometimes the Reef, is an escarpment in Gauteng that stretches 56 kilometres through Johannesburg. On the basin of the scarp, you’ll find the Mponeng gold mine, which reaches over four kilometres below the surface, giving it the title of the world’s deepest mine. It is so deep that a trip from the surface to its furthest point takes over an hour.
Not only does the mine hold a record title, it also boast a staggering amount of gold. Mponeng has a proven gold reserve of approximately 4.5 million ounces.
The gold often uncovered in the mine can range from 10cm to a shocking metre. It is not surprising that Gateng’s gorgeous capital is referred to as the City of Gold.
The mine is currently owned by Harmony Gold, the country’s largest gold producer. The company purchased the mine for $200 million (approximately £155 million) in 2020 and over 5,400 metric tons of rock are excavated from Mponeng every day.
According to Harmony Gold, Mponeng’s gold production increased to 8751 kilograms in the 2024 financial year – 17% higher than the previous financial year, and as a result, the company’s revenue also increased.
Despite a number of gold mines closing down in South Africa, Mponeng stays strong with the company stating the focus area for 2025 on the website.
It reads: “Safety remains a top priority for the operation. Focus will be on achieving the planned build-up in the development metre profile of the life-of-mine extension project to ensure it remains on track.”
