How much does mining contribute to the South African economy?

In 2019, the mining sector in South Africa contributed with an added value of approximately 226.2 billion South African Rand (roughly 13.5 billion U.S. dollars) to the country’s Gross Domestic Product (GDP). The amount decreased by roughly two percent in comparison to the previous year.

How much does mining contribute to South Africa’s economy?

The mining sector represented 9.3% of GDP, while agriculture contributed to 2.6% of GDP in 2012 (IDC, 2013).

How does mining contribute to the economy?

Economic Benefits of Mining

1. Providing livelihood to local communities. 2. Generating income for the local government thereby directly contributing to its economy.

What is the impact of the mining industry in South Africa?

The primary impacts arise from mining, particularly underground mining, largely because South African coal mines are relatively shallow. Coal washing gives rises to large waste dumps, which may ignite spontaneously and cause air pollution. Water pollution arises from some abandoned mines and waste dumps.

How big is the mining industry in South Africa?

The industry represents 18% of South Africa’s $588 billion USD Gross Domestic Product.

Who owns the most mines in South Africa?

As of September 2021, the leading mining companies in South Africa , based on market capitalization. During that time, Anglo American Platinum was South Africa’s leading mining company with a market capitalization amounting to 438 billion rand.

How does coal mining contribute to the economy in South Africa?

The coal mining industry contributed approximately R37 billion to the economy in 1993, with gold contributing R115 billion (value added at constant 2010 prices). In 2013, coal contributed R51 billion to South Africa’s economy, compared with gold’s R31 billion¹. … 28% of South African coal production is exported.

How much does mining contribute to the global economy?

About the Minerals Council of Australia

Despite the overall economy contracting, mining industry GDP increased 4.9 per cent in 2019-20 and totalled $202 billion. This also made mining Australia’s largest industry with a 10.4 per cent share of the economy.

How has mining benefited South Africa?

mines have proved to be of enormous material benefit to South Africa and are largely responsible for the acceleration of the economic development of the country and the main’tenance of its economy at a level undreamed of at the beginning of the century.

How does gold mining affect the economy?

The findings show the gold industry directly contributed $83.1 billion to the global economy in 2013 through their production activities and expenditure on goods and services. Taking indirect economic impact into account, this contribution skyrockets to $171.6 billion.

What are three benefits of mining?

These benefits include low-cost, reliable electricity and the materials necessary to build our homes, schools, hospitals, roads, highways, bridges and airports.

Why is South Africa’s economy still heavily reliant on mining?

The mining industry accounts for by far the largest share of South Africa’s exports, at 38% in 2018. Counting the products of minerals beneficiation, that share rises to 60%. Mining is critical to earning foreign exchange to pay for our massive appetite for imports.

Which is the richest mine in South Africa?

Mponeng Gold Mine – 45.81 Moz

The mine is also one of the richest in the world, with ore grades of over 8 grams per ton and contains gold reserves estimated at 45.81 million ounces (Moz).

How many mining companies are in South Africa?

With 783 mining companies listed.
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The mindat.org mining company directory.