The Mineral Industry of South Africa in 1999
THE MINERAL INDUSTRY OF SOUTH AFRICA By George J. Coakley Mining and downstream minerals processing remained more than $3.3 billion was committed for new projects in 2000, keystones of the economy of the Republic of South Africa in chiefly in gold and PGM, and an additional $4.9 billion was 1999. With a population of 43.4 million, South Africa had a under consideration for future investment. gross domestic product (GDP) per capita of $6,900 based on purchasing power parity estimates for 1998.1 Of total exports of Production all goods, which were valued at $28 billion, gold exports accounted for 14.1%, and other minerals and metals exports, for In 1999, South Africa was one of the largest and most diverse about an additional 28%. According to the Minerals Bureau of minerals producers in the world. As listed in table 1, changes in South Africa, the primary mining sector contributed $7.7 output levels were mixed. Gold production decreased a further billion, or 6.5%, to the GDP. Adding the multiplier effects of 3% between 1998 and 1999 as the industry continued to services and goods supplied by industries that support the rationalize production to reduce operating costs in response to mining sector would increase the contribution to GDP by the continued depressed gold price. Production of most of the another 14%. The contribution to the GDP would also be other major metals was up from 1% to 10% compared with that significantly higher if the value-added mineral-processing of 1998. Output of iron ore, lead, steel, and vanadium declined.
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