More about mining in Africa:
How does South Africa benefit from mining?
Mining contributes approximately R350 billion to the GDP of South Africa, underscoring its significant contribution to the country’s economy. South Africa stands as one of the leading producers of Platinum Group Metals, gold, vanadium, manganese, chromium, and other valuable minerals. Moreover, there remains vast potential in untapped minerals, estimated at around R35 trillion in value, presenting future prospects for employment and capital growth.
Why gold mining is important in South Africa:
While South Africa may no longer hold the title of the world’s largest gold producer, the gold mining industry continues to make a substantial impact on the country’s GDP. Their gold sales in 2019 amounted to R72.6 billion, reflecting a 3.7% growth compared to 2018. Additionally, South Africa’s gold mines have played a pivotal role in the advancement of mining and beneficiation technologies, exemplified by the development of the BIOX® (Biological Oxidation) process at Barberton Mines, a subsidiary of Pan African Resources.
How does mining contribute to the economy of South Africa?
South Africa’s economy has experienced a diverse range of sectors, with mining continuing to play a vital role in its economic framework. The mining industry contributes approximately 7% (around R350 billion) to the country’s Gross Domestic Product (GDP) and provides employment opportunities for over 450,000 individuals. Furthermore, South Africa boasts abundant reserves of precious metals, including platinum group metals (PGMs) and gold, establishing it as a global leader in the precious metals industry.
How many mines in South Africa?
South Africa has mines that are grouped in the central and the north-eastern parts of the country, with approximately 350 mining projects in varying stages of development and around 200 mines that are currently active.
How many gold mines in South Africa?
Presently, South Africa boasts 28 gold mines in operation, along with around 60 mining projects in diverse stages of development. The country’s gold mining activities are concentrated around the Witwatersrand Reef, Barberton’s Greenstone Belt, and its central regions.
Pan Africa Resources has finalised its feasibility study for an expansion of Evander Gold Mines in the Mpumalanga Province, South Africa, named the Egoli Project. The study has affirmed the project’s viability, indicating the potential for significant economic returns. As we continue to explore various non-dilutive funding possibilities for the R750 million project, we hold a strong belief that this Egoli project will serve as a vital and strategic addition to our competitive mining portfolio.
We are also undertaking a study for the feasibility of a solar-powered generation operation at Barberton Mines, aligning with our overarching goals of biodiversity conservation and renewable energy practices. This initiative aims to reduce our mining footprint and further contribute to our commitment to environmental sustainability.