More about mining in Africa:
How does South Africa benefit from mining?
Mining contributes around R350 billion to South Africa’s GDP, highlighting its prominent role in the country’s economy. South Africa is one of the top producers of Platinum Gold Metals, vanadium, manganese, chromium and others. There are still minerals valued at approximately R35 trillion that have yet to be mined, creating further employment opportunities and capital for the future.
Why gold mining is important in South Africa:
Although South Africa has lost its place as the world’s largest gold producer, gold mining is still a significant factor in their GDP. In 2019, gold sales were recorded at R72.6 billion, highlighting an increase of 3.7% from 2018. Beneficiation technology, such as the BIOX® (Biological Oxidation) process, originated at Pan African Resources’ Barberton Mines, showing just how central gold mines are.
How does mining contribute to the economy of South Africa?
South Africa’s economy has varied from mining being the primary economic sector, but it still remains a crucial division of the country’s economic foundation. The GDP (Gross Domestic Product) of the South African mining industry is about 7% (about R350 billion), creating jobs for over 450 000 people. South Africa also has an abundance of PGM riches and gold, dubbing it as having the largest worldwide precious metals industry.
How many mines in South Africa?
In South Africa, there are presently around 200 active mines, with nearly 350 mining projects in different stages of progress. The mining operations are primarily clustered in the central and northeastern regions of the country.
How many gold mines in South Africa?
South Africa currently has 28 active gold mines with approximately 60 mining projects in different developmental phases. South Africa’s gold mining is primarily found along the Witwatersrand Reef, the Barberton Greenstone Belt, and in the country’s central regions.
Pan Africa Resources has conducted a feasibility study for the Egoli Project, which is a development of the Evander Gold Mines in South Africa in the Mpumalanga Province. The study has confirmed the project’s viability and its potential to yield significant economic returns. We are currently exploring various non-dilutive funding options, aiming to secure the necessary R750 million for the project. The addition of the Egoli project will enhance our competitive position in the industry and our mining portfolio.
In addition, we are also undertaking a feasibility study for a solar-powered generation plant at Evander Mine. This aligns with our commitment to biodiversity preservation, sustainable energy practices, and minimizing our mining impact on the environment.