Pirates nab billions in SA gold
05/12/2006 13:39  - (SA)  

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SA cops battle gold pirates Standard sits on old Jhb mine Gold thieves arrested Thousands hit Mali in gold rush

Johannesburg - Nearly $300m worth of gold is stolen every year by underground pirates from mines in South Africa, according to the findings of a new report.

The Institute of Security Studies warned that the scale of the thefts could force the closure of a number of less profitable mines and a subsequent loss in jobs in an industry which is regarded as a cornerstone of the economy.

"Gold theft has occurred for many years, we are constantly vigilant," said spokesperson Andrew Davidson of mining giant Goldfields, which has a special unit which works undercover to flush out gold thieves.

The Institute of Security Studies investigation revealed that an estimated R2bn ($280m) worth of gold is pillaged each year either by one-man bands and by precious metal smuggling syndicates.

The report found that 41% of gold thieves were mine employees and 56% were unemployed.

"As long as poverty exists there will be criminals trying to obtain precious metals," said the study.

The country has also seen a rise in illegal underground mining where illegal miners stay underground for long periods of time, obtaining food from legitimate miners.