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The impact of the gold mining industry on the south african economy

  • The future of mining in South Africa

    Mar 06, 2019· The South African mining industry has consistently increased the size of its workforce, from 406,994 in 2001 to 453,543 in 2018. This has led to a parallel increase in the tax paid by mining companies to the national government, from $1.21bn in 2010 to $1.56bn in 2018, according to the countrys Minerals Council.

  • Mining Strike Impacts South African Economy Voice of

    Mar 20, 2014· Mining Strike Impacts South African Economy. March 20, 2014 08:27 AM according to an industry website that updates the losses like a Doomsday cost platinum and gold

  • ECONOMICS OF MINING - Minerals Council South Africa

    South African mining GDP increased to R304 billion in 2016 from R284 billion in 2015 in actual (or nominal) rand value. The largest contributors to mining GDP were the coal, PGMs and gold sectors, which contributed 25%, 22% and 16%, respectively. The challenges faced by the mining sector in South Africa continue unabated.

  • A century of migrant labour in the gold mines of South Africa

    1886, gold was found along the Witwatersrand, and this by 1914 was to make the South African gold industry the worlds top producer . The South African War of 18991902 forced every gold mine into a virtual shutdown and led to a lowered demand for black labour and the loss of over 100, 000 jobs (a, Figure 1). WNLA was requested to set up a

  • Mining strikes: The costs to SAs economy SAnews

    Mar 05, 2014· With South Africas economy built on gold and diamond mining, the sector is also an important foreign exchange earner. But economists are concerned that continued strikes in major mining companies could damage the South African economy and hold back growth and employment.

  • Economic Impacts of Gold Production in South Africa

    Aug 06, 2011· South Africa's gold industry has been the countrys principal revenue earner, resulting in a robust economy with modern financial systems. Revenues from mining have provided South Africa with a vibrant infrastructure and a manufacturing sector comparable to developed countries.

  • The Role of Mining in the South African Economy

    total value added in the South African economy has more than halved, declining from 21.3 per cent in 1970, to 9.9 per cent of the private sector's GDP in 1998- see the evidence of Table 1.

  • Effects of the Mining Strikes on the South African Economy

    Jul 18, 2014· The current account deficit is already a key weakness in South Africas economy, putting its rand currency under even more pressure. It grew in 2013 to 5,8% of GDP, its widest since 2008. For the current account, the losses will be magnified as South Africas government embarks on a spending binge for big ticket items such as over 1 000

  • How important is mining to the SA Economy. It depends on

    May 29, 2013· Investors in the industry and in the South African economy are not at all sanguine about the prospects for the industry and this lack of confidence is well reflected in the market value of the mining companies and in the exchange value of the ZAR. Relative prices appear to make no positive impact on the mining sector at all when the mining

  • THE ECONOMICS OF GOLD MINING TAXATION

    by windfalls". The gold mining industry has decreased in economic importance since the 1980s but continue to play an important role in the South African economy in terms of economic growth, employment, exports, and the contribution to government tax revenue. In 2004, the gold mining industry contributed 1.4 percent to nominal GDP and

  • Mining and tax in South Africa: Costs and benefits

    contribution to the South African economy is estimated at $25.9b in 2006, including all taxes, procurement and wages. However, South African mining companies enjoy generous tax treatment: they are able to deduct 100 per cent of much of their capital expenditures against tax while gold mining companies pay a corporation

  • South Africa - Gold mining Britannica

    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 migrancy.

  • The Role of Mining in the South African Economy

    welfare impact on the South African economy. Historically the investment rate of the note that the decline in the importance of Gold & Uranium Mining in the South African economy, is not only one of a declining relative importance industry is due to changes in the gold price. Figure 4 illustrates. The gold

  • The social and economic impacts of gold mining yourSRI

    Despite the industrys scale, the socio-economic impacts of the gold mining industry are not well understood. Gold mining companies are a major source of income and economic growth, with an important role in supporting sustainable socio-economic development.

  • The effects of a changing gold price on the South African

    The importance of gold in the development of South Africa as an industrialised economy cannot be over - emphasised. Towards the end of the 19th century the economy depended almost entirely on the production of gold and diamonds which laid the foundation for a highly - developed national economy.

  • the impact of the gold mining industry on the south

    The effects of strikes in the South African gold mining . The mining industry contributes significantly to the South African Gross Domestic Product (GDP) annually (8.5% of the 2011 GDP) and in recent days has been affected by serious strike action both legalised, and controlled by the registered

  • THE IMPACT OF MINING ON THE SOUTH AFRICAN ECONOMY

    Feb 10, 2018· Mining has helped to shape South Africa to a greater extent than any other industry. It turned a largely pastoral economy into an industrial one. It led to the establishment of Kimberley and Johannesburg and other towns. It attracted vast

  • South Africa - Diamonds, gold, and imperialist

    As the predominantly agrarian societies of European South Africa began to urbanize and industrialize, the region evolved into a major supplier of precious minerals to the world economy; gold especially was urgently needed to back national currencies and ensure the

  • THE IMPACT OF MINING ON THE SOUTH AFRICAN ECONOMY

    Feb 10, 2018· Mining has helped to shape South Africa to a greater extent than any other industry. It turned a largely pastoral economy into an industrial one. It led to the establishment of Kimberley and Johannesburg and other towns. It attracted vast quantities of foreign capital.

  • The Impact of the 2014 Platinum Mining Strike in South

    In this paper we measure the economy-wide impact of the 2014 labour strike in South Africas platinum industry. The strike lasted ve months, ending in June 2014 when producers reached an agreement with the main labour unions. The immediate impacts on local mining towns were partic-

  • Socio-Economic Impacts of Mining World Gold Council

    Apr 27, 2021· Some gold-mining companies are working to help overcome challenges faced by low-income and remote communities, such as access to financial products. For many people around the world, easy access to banking services is taken for granted, with branches or automated teller machines (ATMs) on virtually every street corner.

  • v116n3a10 Trends in productivity in the South African gold

    In addition to the global challenges, the South African gold mining industry has to face challenges that are unique to the country. Deloitte (2014) stated that even though mining companies are not strangers to commodity price volatility, the impact on the mining industry has recently been severe owing to declining economic growth in China.

  • Why mining is important in South Africa? Socratic

    May 30, 2016· Mining accounts for up to 60% of South Africa's exports, which is vital for bringing in cash into the country. The minerals it exports are vital to the economies of the world for manufacturing. South Africa is one of the world's leading mining and mineral-processing countries. Though mining's contribution to the national GDP has fallen from 21% in 1970 to 6% in 2011, it still represents almost

  • The decreasing importance of gold mining in South Africa

    Mar 12, 2015· The decreasing importance of gold mining in South Africa. Monthly gold production reached a new monthly low in January, according to data released by Stats SA 1.Although a number of temporary factors might have contributed to the unusually low level, general historical trends show that gold has lost the prominent place it once had in the South African economy.

  • The Gold Mining Industry in South Africa Essay - 1011

    Gold mining in South Africa has a large impact on the environment, the economy and social structure in South Africa. The environmental impact of gold mining on the environment includes water, air and noise pollution. The mining industry in South Africa is one of the largest in the world.

  • The Impact Of Gold Mining In South Africa ipl

    Gold mining activities in the Witwatersrand have played a pivotal role in the development and existence of Johannesburg since 1886. Mining made Johannesburg the city of gold and has since been the main driving force behind the history and the economic development of Johannesburg and South Africa as a whole (Gass, 2012).

  • A Perspective on the South African Mining Industry in the

    For a community of 5 million South Africans, mining remains a principal ally against poverty The latest population census shows that one in seven African men with a formal sector job in 1996 was employed in the mining industry. Through this, the mining industry remains a conduit of money and opportunity to some of the poorest areas in South Africa.

  • SA mining industry says gold sector is facing "serious

    Jul 18, 2018· The Minerals Council South Africa said the mining industry continued to face major challenges. remaining a significant contributor to the South African economy and its people. on the gold

  • Mining - Sustainable Development

    enhancing the sustainability of mining in South Africa. Initiatives introduced by the South African mining industry to improve safety in the countrys mines, have resulted in a more than 50% reduction in fatalities. The mining industry has adopted a zero harm policy and wellness of

  • WHY MINING STILL MATTERS - South African Institute of

    to revitalise the mining industry, the countrys entire economy will wither, like a gold rush town fallen into decay. The mining industry is struggling, but it is far from dead. South Africa is the worlds leading pro-ducer of platinum, vanadium, vermiculite, manganese and chromium.1 It is

  • CONTRIBUTION OF INDUSTRIAL MINERALS TO SOUTH

    South African government recognises the need for infrastructure improvements to deliver on CONTRIBUTION TOWARDS THE ECONOMY: MINING AND AGRICULTURE will positively impact the construction industry and raise demand for cement and limestone. 1.2. MARKET ANALYSIS

  • The effects of strikes in the South African gold mining

    The recent spate of strikes in the mining sector in South Africa has created a perceived nervousness amongst shareholders. Within the mining sector in South Africa, gold mining is of significance historically and economically. This study aims to assess the impact of strikes on shareholder value in the gold mining industry

  • An inputoutput analysis of the impact of mining on the

    We use inputoutput techniques to analyse the impacts of gold, coal, and other mining activities upon the South African economy between 1971 and 1993. Our results suggest that the premise upon which the South African government's proposed minerals policy is based, i.e. that the mining industries have the capacity to generate wealth and

  • socio economic impact of gold mining on south africa

    Gold mining in South Africa has a large impact on the environment, the economy and social structure in South Africa. The environmental impact of gold mining on the environment includes water, air and noise pollution. The mining industry in South Africa is one of the largest in the world.

  • Economies of Scale in Gold Mining - African Development

    This paper focuses on the gold mining industry in Africa. African countries account for 20% of the global gold production of 2500 million metric tons. South Africa is the largest producer of the mineral on the continent but other major producers include Ghana, Guinea, Mali and Tanzania.

  • Our Insights McKinsey & Company

    Mar 15, 2021· COVID-19s impact on the global gold industry: Implications for the next normal and beyond September 21, 2020 The COVID-19 pandemic has affected the gold-mining industry and its workers. Production and costs could hinder what should be

  • Factors driving the mining industry in South Africa

    Jan 01, 2015· About 400 000 jobs in supply and services industry related to mining and quarrying; 18% of total investment in the economy; R1.4 trillion, or 31%, of the value of the Johannesburg Securities Exchange; 17.3% of direct taxes of total company tax. Gold, one time foundation of the South African economy, has budged over time to Platinum.

  • Problems in the mining industry in South africa - ECDPM

    Mining in South Africa has always been an enclave industry, albeit with substantial impact on the rest of the economy. In the main, minerals have been extracted from deep levels, subjected to some basic processing and then exported as ores without a great deal of beneficiation or fabrication.


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