South Africa’s economy was wrought in the fires of its mining industry almost a century and a half ago and, today, nothing seems to have changed. According to the Chamber of Mines of South Africa, economic activity in our country still hinges on the efficacy of this industry that dominates our political, social and economic landscapes.
Our country’s gold, diamond, platinum and coal mines are among the most renowned on earth, and for good reason. Our mining industry’s contribution to the wealth of the world is echoed within our own borders, as well. With R 18 billion of the South African fiscus of 2014 contributed by this industry and a staggering R 304 billion towards South Africa’s GDP (7.3% of the overall GDP) in 2016, there is no question that much of our wealth hinges on the success of mining. A total of half a million employees were also active within the industry during the 2014, each of these having an average of nine dependents. There is no question about it then – mining is integral to all aspects of South Africa’s and its citizens’ growth.
With a marked decline in our country’s still significant contribution to the world’s wellspring of precious stones, metals and minerals, the atmosphere within the local mining industry and its future remains uncertain. With increased labour demands and rising procedural costs, mining operations face unprecedented business challenges in their fight for survival, often forcing them to restructure entirely. Price declines from gold mines to open pit coal mine operations have caused operations to suffer under new financial parameters; luckily, change doesn’t spells an end, but a new beginning. With modern mining procedures being developed every day, mining consultants in South Africa can provide the support that its mining industries require to remain functional.
Stabilising this industry, as we have pointed out, is a priority for our country that is so heavily dependent on it for its own survival. That’s why investment and funding is allocated to processes that are in the industry’s best interest. Speciality mining projects can be given the support they require to remain operational through reliable interventions being made available to them, facilitating internal change, mine reclamation, feasibility studies – whatever it needs to attain the best possible outcome under the circumstances.