Why partnerships are key to solving SA’s mining industry issues
The mining sector is under pressure and there will be only one loser: the people of South Africa
The South African mining industry has long been an integral part of the country’s economy. It has created much-needed employment opportunities for many South Africans and drives sustainable economic growth and black economic empowerment. According to the Chamber of Mines of South Africa, the local mining industry contributed 7.3% to the country’s gross domestic product in 2016 and accounted for 18% of private fixed investment and 11% of the total fixed investment in the same year. However, more importantly, the industry employed nearly 6% of all people working in South Africa. While it is difficult to dispute the industry’s importance to the South African economy, there are a number of factors, including economic and political, that have taken their toll on the sector. Underperforming commodity prices have increased pressure on the industry, and this trend looks likely to continue for the foreseeable future, driven by a slowdown in demand for precious metals from China and India. In...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.