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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. In 2013, roughly half of South Africa mining shafts operated at a net loss.
Although falls in commodity prices, rising costs, damaging policies, and strikes have caused the mining industry to be smaller than it might otherwise have been, the decline in its relative contribution over time is largely explained by the growth of other sectors as the South African economy has matured with the expansion of the secondary and tertiary sectors of the economy.
The entire mining site was later restored between 1994 and1995. Loss Of Biodiversity. Often, the worst effects of mining activities are observed after the mining process has ceased. The destruction or drastic modification of the premined landscape can have a catastrophic impact on the biodiversity of that area.
In this paper we measure the economywide impact of the 2014 labour strike in South Africas platinum industry. The strike lasted ve months, ending in June 2014 when producers reached an agreement with the main labour unions. The immediate impacts on local mining towns were particularly severe, but our research shows that the strike could also have long lasting negative impacts on the South African
Mining Strike Impacts South African Economy. according to an industry website that as the strike has not had much impact on price. Spot platinum prices are little changed since the
South Africa holds about 80% of the world''s known platinum reserves and the dispute is expected to cripple the global industry. Lerato Mbele reports from Johannesburg. Published
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.
At this weeks Mining Lekgotla (1314 August 2014), the future of the currently suppressed platinum industry is likely to be a key agenda item. Whether fuel cell technology takes off is a critical determinant of what this future might look like.
#0183;#32;Environmental pressure from mining activities such as those from the platinum sector occurs through the finegrounded slurry from the processing plants, with its associated extracting chemicals that reach the tailings disposal facility (TDF). It is important that the effects of these activities on the environment are examined, especially in South Africa where there is a general paucity on data
The impact of platinum on the rest of the economy The relationship between a change in output from a sector (which implies a change in intermediate spending) and the effects generated on the economy is the multiplier effect of the sector. The study of multipliers is generally called impact analysis (Kuhn, 1997).
South African miner SibanyeStillwaters share price has lost over 60% in the past four weeks while Impala Platinum has lost a similar percentage, and Anglo American is down by as much as 40%. Covid19 shakes mining sector The response to the pandemic from governments and markets has shaken the mining industry.
The immediate impacts on local mining towns were particularly severe, but our research shows that the strike could also have long lasting negative impacts on the South African economy as a whole. We find that it is not the higher nominal wages itself that caused the most damage, but the possible reaction by investors in the mining industry towards South Africa.
The immediate impacts on local mining towns were particularly severe, but our research shows that the strike could also have long lasting negative impacts on the South African economy as a whole. We find that it is not the higher nominal wages itself that caused the most damage, but the possible reaction by investors in the mining industry towards South Africa.
The platinum mining industry in South Africa increased production from 163 tons in 2010 to almost 200 tons in 2017, with total sales of over R 9 billion. Africa Mining IQ currently tracks 82 platinum projects across South Africa across all stages of development.
The Impact of the 2014 Platinum Mining Strike in South Africa: An EconomyWide Analysis . Bohlmann,, Dixon,, Rimmer, and Van Heerden, 28 October 2014 . Abstract In this paper we measure the economywide impact of the 2014 labour strike in South Africas platinum industry. The strike lasted five months, ending in June 2014 when
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