Mining in South Africa

Mining in South Africa directly contributed to the establishment of the
Johannesburg Stock Exchange in the late 19th century, and today it still accounts
for a third of its market capitalisation. It is clear how much mining in South Africa has
shaped the country politically, culturally, and economically.

The Jwaneng mine is expected to yield 102 million carats during the expansion project

Tracking and reporting on COAL MINING PROJECTS in Africa is part of the mining intelligence service available.

The discovery of the first diamond on the banks of the Orange River in 1867 was the spark that ignited the explosion of mining in South Africa. By 1886, gold and diamond rushes were quickly turning mining in South Africa into the nation’s staple economy. The South African mining industry was characterised by a sudden influx of fortune seekers; which resulted in harsh and unkind living conditions. These pioneers, while developing early South African infrastructure, were creating the basis for massive future wealth creation through mining in South Africa.

The potential for mining in South Africa, including the discovery of the world’s largest gold deposits in Witwatersrand, triggered what is now called the South African War, or Anglo-Boer War, which led to the annexation of South Africa under the British Empire from 1910 to 1961. During this time, the techniques for mining in South Africa improved: Having living canaries for gas-detectors and other dangerous labour practices became obsolete as mining in South Africa advanced to include sophisticated ventilation and, eventually, chemical extraction of minerals from low-grade ore. The growth of mining in South Africa led to a high demand for industrial support and, as a result, it shaped the South African economy and turned it into a mining country.

In 1970, gold mining in South Africa peaked, contributing 68 per cent of global production for that year. By 2001, mining in South Africa had produced a total of 51 per cent of global platinum group metals ever mined. Today, mining in South Africa is still playing a significant role in the development and history of South Africa; both as a country, and as a leading economy on the African continent.

Today, South Africa is the world’s largest producer of chrome, manganese, platinum, vanadium, and vermiculite. South Africa is the world’s second largest producer of ilmenite, palladium, rutile, and zirconium. This shows that mining in South Africa still contributes significantly to the country’s economy, and demonstrates the importance of South Africa on a global mineral production scale.

The South African mining sector has provided the critical mass for a number of industries that are either suppliers to the mining industry, or users of its products. These include energy, financial services, water and engineering services, and specialist seismic geological and metallurgical services.

Currently, mining in South Africa:

• contributes an average of 20% to South Africa’s GDP, of which about 50% is contributed directly.
• boasts total annual income exceeding R330 billion.
• is one of the country’s major employers, with more than one million people in mining-related employment.
• is the largest contributor by value to black economic empowerment in the economy.