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In many ways, South Africas political, social and economic landscape has been dominated by mining, given that, for so many years, the sector has been the mainstay of the South African economy. Although gold, diamonds, platinum and coal are the most wellknown among the minerals and metals mined, South Africa also hosts chrome, vanadium, titanium and a number of other lesser minerals.
The effects of strikes in the South African gold mining
Dec 27, 2012#0183;#32;The August 2012 wildcat strike by workers at a Lonmin mine in the Marikana area in South Africa resulted in a confrontation between miners and police leading to
One of the key reasons for strikes is the high level of mistrust between employers and trade unions. More than one strike has taken place because the employer pleaded poverty during the negotiations, but announced healthy profits before the end of the wage negotiations!
#0183;#32;When mining industries are well managed, countries like Peru, Chile, and Botswana have seen massive economic growth. Mining is crucial for developed nations as well. For example, mining makes up 20% of South Africas total GDP and employs over 1 million people. People estimate that South Africa sits on over in mineral reserves.
Mining is South Africas biggest foreign currency earner. It accounts for about 18 percent of gross domestic product and 60 percent of exports. It is employs about 500 000 people.
South Africa is home to 80% of the world''s known platinum reserves, and produces about 70% of the world''s supply. Platinum prices have been flat since 2009 or so, due to weak demand for catalytic converters, the primary use of platinum in industry. Meanwhile, other costs have risen, putting pressure on the mining industry.
Mining strikes coming to S. Africa may cause permanent The influence of AMCU within the South African mining sector is more extensive within the platinum industry than is the case with
Mining is an important sector in the South African economy. It had been reported that in 2012 it brought in 21bn, or % of GDP and 38% of all South African exports. An internal memorandum from Lonmin officials shows that in July the company knew it was paying its
The South African mining industry has consistently increased the size of its workforce, from 406,994 in 2001 to 453,543 in 2018. This has led to a parallel increase in the tax paid by mining companies to the national government, from in 2010 to in 2018, according to
Miners'' Strike. South Africa 1922. Synopsis. In early 1922, white South African workers in the Witwatesrand gold mining region went on strike. The strike soon became a violent rebellionsometimes known as the Rand Revoltthat pitted the white miners against the mine owners and the government.
As South Africa''s biggest postapartheid mine strike marks its eighth week on Thursday, it is already denting growth and export earnings, and many of those affected are having to sell their most
The recent spate of strikes in the mining sector in South Africa has created a perceived nervousness amongst shareholders. Within the mining sector in South Africa, gold mining is of significance historically and economically. This study aims to assess the impact of strikes on shareholder value in the gold mining industry
We take a look at a few highlights/low lights of South Africa''s mining industry as published by Statistics South Africa Exactly a week after delegates closed the 26 th Investing in African Mining Indaba, Stats SA released data on the performance of the mining industry in 2019. The level of production was 1,3% lower in 2019 than 2018, which in turn was 2,1% lower than 2017.
The August 2012 wildcat strike by workers at a Lonmin mine in the Marikana area in South Africa resulted in a confrontation between miners and police leading to the killing of at least 47 miners
Coal mining in South Africa started in the 19th century in Witwatersrand around the same time as the start of gold mining. Around 70% of the coal mined in South Africa is used for local power generation and the rest, which is of higher quality, is exported. The coal mining industry represents around 19% of total employment in the South African
Aug 24, 2012#0183;#32;South Africa''s mining industry has lost 131,000 jobs since 2001 because of underinvestment and poor performance, according to the agency.
Jan 12, 2016#0183;#32;South Africa sits on about 80% of the world''s platinum resources, so it could be detrimental to the industry if diesel autocatalyst demand continues to drop. Platinum production has been outweighing demand, so unless another use for the material is discovered, the situation could become increasingly bleak.
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