Tiny electronics can still rely on gold

"The shift schedules are demanding. The work is repetitive. There are issues trying to keep people engaged in the work that they are doing."

If the class action goes ahead, it will affect almost every gold mine in South Africa, including their parent companies, covering their conduct over the last 50 years.

Combined these mining and metal giants are worth $700 billion with operations in every corner of the world.

Rumours follow Rio's decision to group its least loved units — coal, uranium salt, borates and its Iron Ore Co. of Canada — under a new umbrella branded as the “energy and minerals” business.

Silver is generally known for its use in coins, silverware and of course jewellery. However, today these account for less than 50% of all silver consumption.

Andrew Harding, once tipped as the most likely person to take the company’s reins, is being replaced by Chris Salisbury, currently leading the copper and coal division.

"We are one of the few who are building."

According to the Association of Mineral Exploration (AME), a number of junior exploration companies and their suppliers and contractors have been approached by First Nations.

Last week large scale gold futures speculators pushed bullish bets to just under 750 tonnes, the highest since gold peaked at $1,900 an ounce August 2011.