A privately owned mining company is preparing to begin full-scale gold production on South Africa’s historic East Rand, betting that high prices and tight cost control can revive previously marginal deposits.
Upward Spiral 1471 (Pty) Ltd says it is ready to commence mining at its newly acquired Snake Road Mining Right in Benoni after completing regulatory approvals, geological modelling, and open-cast planning late last year. The move marks a new chapter for gold extraction in a region that once formed the backbone of South Africa’s mining economy.
The Snake Road project focuses on a known gold-bearing reef extending from the Snake Road area towards the company’s existing Van Ryn surface operation. Historically, the site was used mainly for aggregate mining, with only limited gold recovered through surface reef picking. Today’s gold price environment, however, has shifted the economics.
Managing director Jackie Pahad described the project as a “controlled, compliant and sustainable mining development,” adding that it is designed to unlock value while delivering “long-term socio-economic benefits to surrounding communities.”
Flexible production, disciplined capital
Technically, the project has been structured to remain viable across price cycles. Metallurgical manager Thabang Masuku said that at the planned production rate, the mine is economically sound, with scope to scale up if conditions allow. The installation of a second mill could double monthly processing capacity, enabling the company to take advantage of favourable gold markets.
Snake Road is a near-surface, conventional operation supported by an inferred resource of about 128,603 ounces of gold. Peak output is expected to rise from 579 troy ounces per month to as much as 1,158 ounces under optimal conditions, underpinning an initial mine life of roughly 10 years.
Environmental controls are central to the design. Instead of a tailings dam, filtered tailings will be blended with sand from a rehabilitation programme for toll treatment and safe disposal. Water will be recycled through filtered systems and thickener overflow, reducing freshwater demand.
The project is expected to employ about 68 permanent staff initially, with numbers rising as operations expand. Recruitment will prioritise nearby communities, alongside graduate development and skills training.
Fully licensed by the Department of Mineral and Petroleum Resources, the operation complies with environmental, water-use, waste-management and air-emission requirements. Pahad said the company aims to exceed minimum standards.
Investment strategist Adrian Saville of Cannon Asset Managers said the current gold cycle allows “disciplined operators to generate strong returns even at a smaller scale,” making such projects attractive due to low capital intensity and clear revenue visibility.
While modest in output, Snake Road reflects a broader shift in South Africa’s gold sector: smaller, selective operations replacing mega-mines. For investors, it signals capital discipline, ESG alignment and renewed confidence in the country’s mining framework.
