The controversial duties, imposed earlier this month, will be eliminated once ongoing negotiations on a free trade agreement (FTA) between the two nations is finalized.
The volume of gold sold forward by mining companies jumped 61% in the second quarter after Russia's Polyus Gold added a major new hedge position, an industry report showed on Wednesday.
Randgold Resources chief executive Mark Bristow argues that the looming undersupply of gold will create opportunities for mineral-rich African countries but they will have to compete aggressively for shrinking exploration dollars.