Contributions to the paper 'Uneconomic gold production in South Africa'

Contribution by B. K. Martust I congratulate the author on his interesting paper. In my view, the establishment of the level at which South African gold output is at some kind of optimum is an interesting though somewhat academic exercise. Contribution by D. M. Hawkins* The thesis of the paper is a very interesting one, but, before it is used as the basis of any firm proposals to restructure the mining industry, which changes may be irreversible, one should be very sure that the basis of the calculations is sound. Contribution by P. J. Niewenhuizen* The hypothesis advanced by Mr Monro that the demonetization of gold in August 1971 introduced a major new policy variable, namely the supply-pricejdemand-price relationships, into the decision making process touches on a matter that has never really been given serious thought by the industry. Contribution by B. G. Kingsman* As a co-worker on the development of an econometric model for supply and demand in the world gold market with Mr H. L. Monro, it would perhaps be useful for me to make some comments on the various points raised in the discussions on his paper.