The gold prices used in this table and chart are supplied by BullionDesk. Where the gold price is presented in currencies other than the US dollar, it is converted into the local currency unit using the foreign exchange rate at the time (or as close to as possible).
This paved the way for the formalised gold mining sector to take control and regulate the gold mining in South Africa. Today, companies like Anglo American, Harmony Gold and BHP Billiton, etc. are established as industry leaders of gold mining in South Africa.
South Africa's gold output has fallen 85 percent since 1980, but the country is still among the world's top-10 producers. In 1980, mining accounted for 21 percent of South Africa's gross domestic product, the largest contributor along with manufacturing.
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1 day ago · Most of South Africa's gold mines are unprofitable at current prices. Dwindling output has cut gold's contribution to little more than 1 per cent of the South African economy, down from 3.8 per cent in 1993 - the year before Nelson Mandela's African National Congress won the country's first democratic elections.
South Africa's gold industry now employs just over 100,000 people, less than a fifth of the number that used to power the apartheid economy. The economic and social impact of a further contraction in the industry will be magnified as every gold miner supports between five and 10 dependents, while creating two jobs elsewhere, according to the ...
Most of South Africa's gold mines are unprofitable at current prices. Dwindling output has cut gold's contribution to little more than 1 percent of the South African economy, down from 3.8% in 1993 — the year before Nelson Mandela's African National Congress won the country's first democratic elections.
South Africa accounted A percentage of 15% of the world's gold production in 2002 and 12% in 2005, though the nation had produced as much as 30% of world output as recently as 1993. Despite declining production, South Africa's gold exports were valued at $3.8 billion USD in 2005.
The mining industry in South Africa is one of the largest in the world. It provides jobs for hundreds of thousands of people in the mining industry alone. The mining industry also indirectly provides jobs for about 400 000 with the goods and services that the mines require to run successfully.
A worker holds a handful of gold bullion granules during manufacture at a plant in Germiston, South Africa (file). The country's gold industry now employs just over 100,000 people, less than a fifth of the number that used to power the apartheid economy.
1 day ago · A worker cleans gold bars at Gold Fields South Deep mine in Westonaria, 45 kilometres south-west of Johannesburg. South Africa's 130-year-old gold industry -- which has produced half the bullion ever mined on Earth -- is locked in the final stages of a decades-long death spiral.