Mining industry in South Africa
Coal mining in South Africa began around the same time as gold mining and is one of the country's most valuable commodities, accounting for 26 percent of mineral mining revenue in 2023.
South Africa's gold industry, like its economy, is crumbling
South Africa's formal gold sector still churns out about $4 billion in revenue every year. Along with platinum, coal and iron ore, it's an important part of the economy. But with China's ...
A history of mining in South Africa (NA)
Today, the mining industry remains one of the biggest contributors to the country's economy with an estimated worth of R20.3 trillion (US$2.5 trillion). It is the world's fifth largest mining sector in terms of gross domestic product (GDP), contributing eight percent to South Africa's GDP.
South Africa GDP Annual Growth Rate
South Africa's economy grew by 1.2% over a year ago in Q4 2023, following a 0.7% decrease in the previous period and better than market estimates of a 0.9% rise. GDP Annual Growth Rate in South Africa averaged 2.38 percent from 1994 until 2023, reaching an all time high of 19.20 percent in the second quarter of 2021 and a record low …
Platinum seen contributing as much to South Africa's economy as gold …
Just over a decade ago, in 2006, the PGMs mining industry in South Africa employed over 200 000 people and produced 9.9-million ounces of PGMs, valued at R65-billion, with margins above 30% and ...
The Decline of South African Gold Mining | E & MJ
A recent GFMS gold survey puts South Africa at the highest end of the cost scale among gold producers, but the country's gold mines remain important. In 2009, South Africa's gold mining industry earned about $6.35 billion in foreign exchange making it the country's second largest exporter behind platinum group-metals at about $7.6 billion.
SOUTH AFRICA: IMPLICATIONS OF FALLING GOLD …
We believe that Pretoria's policy of periodically sti- fling growth compounded the effect of the fall in gold production and was, the principal cause for the decline in the average rate of South African economic growth from 5.7 percent in the 1960s to 2.8 percent since 1970. Moreover, in our judgment, Pretoria's short- term reactions made it ...
South Africa: mining revenue 2013-2023 | Statista
In 2023, the total revenue of South Africa's mining industry was 654 billion South African rand (around 34.8 billion U.S.
Africa: gold mine production 2021 | Statista
Mar 12, 2024. The total gold mine production in Africa amounted to 680.3 metric tons in 2021. This figure represents an increase of roughly 0.5 percent in comparison to the previous year.
Gold
The Witwatersrand Basin remains the world's largest gold resource. In 2022, the gold sector employed 93,841 people who collectively earned R28.9 billion. Gold production of 84 tonnes. At the current gold price …
Minerals | Statistics South Africa
South African economy expands by 0,4%. After contracting by a revised 1,1% in the fourth quarter of 2022, real gross domestic product (GDP) edged higher in …
Mineral industry of Africa
Africa's share of the world exploration budget increased slightly to 16.5% in 2005 from 16.1% in 2004. In 2005, the principal mineral targets in Africa were copper, diamond, gold, and platinum group metals (PGM).
Facts & Figures pocketbook 2022 published by
Mining company tax in 2022 was R74-billion (R81-billion, 2021) and royalties increased to R14-billion from nearly R12-billion. Mining's contribution to GDP grew by 4% to almost R494-billion, keeping its percentage contribution to GDP at 7.53% (7.56%, 2021). "Transport logistics and energy are two of the most critical issues the Minerals ...
How does the mining sector impact the South African …
Mining contributes 11% of gross capital creation but also 16% of total direct foreign investment in South Africa. Despite accounting for just 0.3 percent of taxpayers, …
Boosting South African mining competitiveness
The group's article, An untapped goldmine: opportunities for South African mining, shows that the mining sector remains an important engine of South Africa's economy, contributing approximately 8% of GDP, and employing roughly half a million people. The industry also has the capacity to contribute to future growth.
How Does Mining Contribute To The Economy Of South Africa…
The mining industry is a major contributor to the South African economy, with over US$16 billion in revenue generated in 2014. The sector employs around 176,000 people, provides significant tax revenue and supports other economic sectors. Mining has a significant impact on the economy of South Africa, contributing significantly to GDP.
South Africa GDP
The Gross Domestic Product (GDP) in South Africa was worth 405.27 billion US dollars in 2022, according to official data from the World Bank. The GDP value of South Africa represents 0.17 percent of the world economy. This page provides the latest reported value for - South Africa GDP - plus previous releases, historical high and low, short …
THE MINERALS COUNCIL PUBLISHES FACTS & FIGURES …
perception of South Africa as mining investment destination. In 2022, the mining industry: • The direct contribution to GDP grew by 4% to R494 billion (2021: R475 billion). • The percentage contribution of mining to the economy was 7.53% (2021: 7.56%). • Employed 475,561 people (2021: 458,954).
Contribution of the mining sector to the South …
Despite building the economy in a variety of ways, the mining sector has facilitated social and environmental problems, such as wealth accumulation at the expense of migrant workers, widening wage ...
Mining's contribution to national economies between 1996 …
Mining's contribution to economic activity in the low- and middle-income countries clearly increased between 1996 and 2016. The increase is higher in LIE than in MIE. Mining's share of GDP increased with 43% during these years for these two categories of country. The share was 1.2% in 2016, compared with 0.8% in 1996.
Gold mining, climate change, and Africa's transition
The value of that gold and its contribution to the GDP of those host countries has risen even faster. While global gold mine production has grown by 26 percent since 2010, in Africa it has risen ...
Economic Impacts of Gold Production in South Africa
South Africa Department of Minerals and Energy (2007). South Africa is estimated, by the US Geological Survey, to have 6000 metric tons of gold reserves. A full 95% of South Africa's gold mines are underground operations, reaching depths of over 2.5 miles. Coupled with declining grades, increased depth of mining, and a slide in the
Mining in South Africa: A year of steady descent
Mining in South Africa saw a decline in the production of diamonds, iron ore and PGMs. ... the 2,3% decrease was the biggest factor behind the decline in GDP, subtracting 0,6 of a percentage point from GDP growth. The trade, catering and accommodation industry was the second largest negative contributor to growth, …
South Africa
South Africa - Gold Mining, Economy, History: Prospectors established in 1886 the existence of a belt of gold-bearing reefs 40 miles (60 km) wide centred on present-day Johannesburg. The rapid growth of the gold-mining industry intensified processes started by the diamond boom: immigration, urbanization, capital investment, and labour …
Facts & Figures pocketbook 2022 published by
Mining company tax in 2022 was R74-billion (R81-billion, 2021) and royalties increased to R14-billion from nearly R12-billion. Mining's contribution to GDP grew by …
Four facts about the mining industry (2019) | Statistics South Africa
The South African mining industry employed 514 859 individuals in 2019. If the mining sector is represented by a group of 100 workers, 39 are employed in the platinum group metals sector, 21 in the coal sector and 20 in the gold sector. The iron ore sector is a much smaller recruiter, employing 5 of every 100 employees.
South African economy averts recession as mining sector …
South Africa's economy escaped a technical recession in the fourth quarter as fewer rotational power cuts helped energy-intensive industries including mining and manufacturing rebound. Gross ...
2024 Budget highlights strains on the South African mining …
The Minerals Council South Africa welcomes the tabling of the 2024 Budget that presented a somewhat less concerning trajectory for South Africa's public finances than the medium-term budget statement (MTBPS) in November 2023. ... corporate tax collected from the non-mining sectors of the economy declined by R1 billion during the …
Towards a sustainable artisanal gold mining sector in South Africa
1. Introduction. In a global context, artisanal and small-scale mining (ASM) is critical in poverty reduction. The ASM sector is a viable pathway for creating sustainable livelihoods and poverty alleviation initiatives, specifically in sub-Saharan Africa (SSA) (Osumanu, 2020, p. 209; Mhangara et al., 2020).According to estimations, at least 40 …
An Untapped Goldmine: Opportunities for South …
South Africa's mining sector faces a number of ... supported by a rich natural endowment of mineral resources, including Platinum Group Metals (PGMs), …
The role of mining in the South African economy
Gold mining started more than a century ago in the Witwatersrand gold elds, South Africa (Durand, 2012;Hobbs et al., 2010;Phillips and Law, 2000).
THE MINERALS COUNCIL PUBLISHES FACTS
perception of South Africa as mining investment destination. In 2022, the mining industry: • The direct contribution to GDP grew by 4% to R494 billion (2021: …
Mining & Metals (GL)
Mining & Metals. S outh Africa's political, social and economic landscape was built by its mining sector. Although gold, diamonds, platinum and coal are the most well-known among the minerals and metals mined, South Africa also hosts chrome, vanadium, titanium and a number of other mined minerals. Mining in South Africa has been a …