156. Amid a year fraught with unparalleled challenges, the South African mining sector emerged as a beacon of resilience and strength, contributing significantly to the national economy and societal welfare in 2023.
During 2022, the sector created 15,500 more jobs, lifting total employment to 475,560, according to ... performance of the mining industry, showed how important the sector is for the South African economy. "Once again, the mining industry has shot out the lights when considering its financial ... Mining's contribution to GDP grew by 4% to ...
GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. …
Since then, the mining industry has become hugely important to the country, contributing roughly 202 billion South African Rand (roughly 10.9 billion U.S. dollars) in …
Metallic mineral and coal production in Africa corresponded to nearly 4.5 percent of the continent's Gross Domestic Product (GDP) in 2018.
South Africa has the world's largest reserves of platinum group metals and manganese, along with some of the largest reserves of gold, diamonds, chromite ore, and vanadium. In 2022, the total revenue of the mining industry was ZAR 747 billion1, underscoring its potential to further contribute to economic development and job creation.
We take a look at the latest gross domestic product (GDP) numbers published by Statistics South Africa and focus on the contribution of South Africa's provinces to the overall GDP of South Africa.
MINING'S CONTRIBUTION TO SOUTH AFRICA – PROVINCIAL OVERVIEW economies. Mining contributes more than 20% to the economies of the Limpopo, Mpumalanga, …
The positive influence is that coal mining improves the South African economy, expressive of impacts on export, domestic consumption, GDP, and employment. ... of coal mining's contributions in ...
contribution of the mining sector to the South African economy and the broader society. Just as one example of this, provincial data released by Stats SA in 2023 ... contribution to GDP Total primary sales Minerals exports Employment3 R1.1 trillion R425.6 billion 6.2% R786.2 billion R781.6 billion
In 2023, South Africa's platinum group metals mining industry employed some 181,806 people; thus it was the largest employer of all mineral commodities produced in the country.
Overview of the South African mining industry (including safety and health) 9 ... how South Africa's total mineral sales, exports, PAYE contributions, and company taxes and royalties increased ... The graphs overleaf indicate the mining sector's contribution to GDP and the volatility in mining GDP due to
> South Africa's mining industry is the fifth largest globally in terms of gross domestic product (GDP). > The mining sector contributed R356bn or 7.3% to South Africa's …
Mining contribution to GDP, 2019 Value of mining exports, 2019 ... the South African economy, in terms of contribution to GDP, revenue for the state and jobs created. When a discovery is ... Total potential impact on GDP R515mn R4.7bn R25.5bn Average annual potential impact on jobs 1,400 16,500 57,000
Minister Mantashe welcomes mining's contribution to quarter 1 GDP. The Minister of Mineral Resources and Energy, Mr Gwede Mantashe welcomes the contribution of the mining sector to Gross Domestic Product (GDP) first quarter of the 2021. Statistics South Africa announced today, 08 June 2021, that mining recorded …
Mining continues to play a significant role in South Africa's economy, and it remains a catalyst for change. Credible, relevant and accessible industry data is vital for stakeholders to better understand the industry, its …
After two consecutive quarters of growth, South African real gross domestic product (GDP) contracted by 0,2% in the third quarter (July–September) of 2023.1 The contributions to the performance of the economy were evenly spread between the industries on the …
total value added in the South African economy has more than halved, declining from 21.3 per cent in 1970, to 9.9 per cent of the private sector's GDP in 1998-see the evidence of Table 1. The strongest decrease in the proportional contribution of mining to total value added of the economy occurred during the 1970-75 period.
A new record high has been achieved for South African mineral production during 2022, marking the second consecutive year in which the industry has exceeded R1-trillion. Nonetheless, in spite of this significant contribution to the country's economy and its citizens, there remain many concerns regarding the issues faced by the sector — …
Table 3 – Contributions to growth in GDP ... The mining and quarrying industry increased by 0,9% in the first quarter. Increased economic activities were reported ... STATISTICS SOUTH AFRICA 7 P0441 Gross domestic product, First quarter 2023 Exports and imports of goods and services ...
Adding all of this together reflects the direct plus indirect impacts of the mining sector across the economy – that is, a R536.1 billion contribution to GDP and sustaining 1.35 million jobs.
The mining industry's contribution to South Africa's GDP grew 6% year-on-year in 2018, according to Minerals Council South Africa (MCSA). MCSA CEO Roger Baxter giving the state of the mining ...
It was also the decade that saw South African mining forge ahead in its influence on the economy and employment. How has the economy in general, and mining in particular, shifted since then? Mining's contribution to total economic production climbed in the 1970s to peak at 21% in 1980 1. Contributing to the upward surge in 1980 …
The contribution of minerals and mining to GDP and exports reached a maximum at the peak of the mining boom in 2011. Naturally, the gures for mining's contribution had declined for most ...
Mining industry's economic impact. The mining sector, which was formerly dominating, now contributes to barely 8% of South Africa's GDP (GDP). Agriculture's and manufacturing's relative contributions have likewise decreased since the mid-twentieth century, while those in the other sectors have increased.
examining mining's contributions to GDP and employment creation in South Africa over the period 1993 to 2015. Data was sourced from credible sources such as the
In 2023, the total revenue of South Africa's mining industry was 654 billion South African rand (around 34.8 billion U.S.
By the mid-nineteenth century, South Africa was a complicated patchwork of British colonies, Boer settler republics and African states. Southern Africa still offered limited economic prospects for European imperialist powers and the increasingly racialised nature of settler colonialism created a violent landscape of socioeconomic inequality, wars of …
GDP: South Africa's GDP for 2017 was USD349 billion. The manufacturing, agriculture and mining sectors are historical major contributors to South Africa's (SA) economy, albeit on a decline path. The main contributors to the 2017 increase in economic activity were agriculture, mining and financial services.
Sector contributions to mining minerals exports in SA (2014) Source: Chamber of Mines estimates; StatsSA. ... • 59,407 jobs lost in mining between 2012 and 2015 ... only loss-making sector of the economy) Mining in South Africa: the challenges and the opportunities 2 September 2016 27 Source: STATSSA AFS.