SOUTH AFRICA
South Africa's mining industry has been and remains the bedrock of Africa's economic powerhouse. The mining sector and its related industries are critical to the country's socioeconomic development.
South Africa is well endowed with a considerable mineral resource base, estimated by Citibank at US$2,5 trillion. The country's mining sector contributes about 8% to gross domestic product, which increases further to 18% when taking into account the indirect effect of mining on the economy. South Africa ranks among the top 10 countries in terms of the production of minerals such as manganese, iron ore, gold, chrome, ferrochrome and piped medical gases.
South Africa is well endowed with a considerable mineral resource base, estimated by Citibank at US$2,5 trillion. The country's mining sector contributes about 8% to gross domestic product, which increases further to 18% when taking into account the indirect effect of mining on the economy. South Africa ranks among the top 10 countries in terms of the production of minerals such as manganese, iron ore, gold, chrome, ferrochrome and piped medical gases.
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South Africa’s mineral wealth is typically found in the following well-known geological formations and settings:
According to the Chamber of Mines, in 2008 the South African mining sector employed 518 585 employees compared to 495 474 in 2007, representing an improvement of 4,7%. Mining accounted for 6,1% of total non-agricultural formal employment in the economy and 7,8% of total private-sector non-agricultural employment.
Policy
The Mineral and Petroleum Resources Development Act, 2002 has opened doors for the substantial and meaningful participation of historically disadvantaged South Africans in the exploration and exploitation of mineral resources. In 2010, the Department of Mineral Resources concluded an assessment of the progress of the industry's transformation against the Mining Charter objectives. The racial ownership pattern of the country's mining assets had remained largely unchanged, with only 8,9% black ownership attained by 2009 against the target of 15%.
The reviewed Mining Charter, launched in September 2010, seeks to correct this, putting emphasis on 26% of South Africa's mining assets being Black Economic Empowerment compliant by 2014. It also provides for the complete elimination of hostels on South Africa's mines by 2014, and introduces a sustainable element, premised on the understanding that the social licence to operate includes the environment, health and safety performance. Under the charter, companies found not complying could face penalties, which could include the revoking of a mining company's licence.
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- The Witwatersrand Basin yields some 94% of South Africa’s gold output and contains considerable resources of uranium, silver, pyrite and osmiridium
- The Bushveld Complex [PDF] is known for its platinum-group metals (PGMs) (with associated copper, nickel and cobalt mineralisation), chromium and vanadium-bearing titanium iron-ore formations as well as large deposits of industrial minerals, including fluorspar and andalusite.
- The Transvaal Supergroup contains enormous resources of manganese and iron ore.
- The Karoo Basin extends through Mpumalanga, KwaZulu-Natal, Free State as well as Limpopo, hosting considerable bituminous coal and anthracite resources.T
- The Phalaborwa Igneous Complex hosts extensive deposits of copper, phosphate, titanium, vermiculite, feldspar and zirconium ores
- Kimberlite pipes host diamonds that also occur in alluvial, fluvial and marine settings.
- Heavy mineral sands contain ilmenite, rutile and zircon.
- Significant deposits of lead-zinc ores associated with copper and silver are found in the Northern Cape near Aggeneys.
According to the Chamber of Mines, in 2008 the South African mining sector employed 518 585 employees compared to 495 474 in 2007, representing an improvement of 4,7%. Mining accounted for 6,1% of total non-agricultural formal employment in the economy and 7,8% of total private-sector non-agricultural employment.
Policy
The Mineral and Petroleum Resources Development Act, 2002 has opened doors for the substantial and meaningful participation of historically disadvantaged South Africans in the exploration and exploitation of mineral resources. In 2010, the Department of Mineral Resources concluded an assessment of the progress of the industry's transformation against the Mining Charter objectives. The racial ownership pattern of the country's mining assets had remained largely unchanged, with only 8,9% black ownership attained by 2009 against the target of 15%.
The reviewed Mining Charter, launched in September 2010, seeks to correct this, putting emphasis on 26% of South Africa's mining assets being Black Economic Empowerment compliant by 2014. It also provides for the complete elimination of hostels on South Africa's mines by 2014, and introduces a sustainable element, premised on the understanding that the social licence to operate includes the environment, health and safety performance. Under the charter, companies found not complying could face penalties, which could include the revoking of a mining company's licence.
South Africa Mining - Next Page >>>
