Full article: Challenges in the ocean economy of South Africa

The ocean economy is a crucial factor in relation to global economic growth and development, offering favourable opportunities. It is estimated that 30% of South Africa's population lives within 60 km of the coast (Department of Environmental Affairs, 2014 ). In 2016, the Organisation for Economic Co-operation and Development (OECD ...

2024 Budget highlights strains on the South African mining …

The mining industry is severely constrained by a drastic downward correction in prices of various commodities, including platinum group metals (PGMs) …

Mining Sector Report 2022

Mining in South Africa has been a major industry for many years, and it continues to play a significant role in the country's economy. However, the industry has faced several challenges in recent years, including load shedding. ... This value is a 59% increase from the 2020 financial year revenue, though this increase is from a ...

Mining sector offers significant opportunity in enabling …

12th May 2022. Font size: - +. By Raymond Obermeyer, Managing Director at SEW-EURODRIVE South Africa. South Africa 's economy was built on its mining industry …

Mining Charter Analysis: Shaping South Africa's Future

The Mining Charter has been instrumental in fostering Black ownership in the mining sector, which has impressively grown from 2% in 2004 to 39% today. This significant progress, however, is tempered by varying compliance levels and the necessity for broader participation across all industry levels. The Charter's focus extends beyond …

Mining After COVID: The South African Case

Mining After COVID: The South African Case. November 11, 2020. Alexis Bour Lucas Chaumontet Hans Kuipers Tycho Möncks Dawie Scholtz Damien Erasmus. While the fight against COVID-19 continues, it is inevitable that the pandemic will have significant impacts on the global economy. As many countries continue to practice …

THE MINERALS COUNCIL PUBLISHES FACTS & FIGURES …

The value of South African mineral production achieved a record high for the second consecutive year in 2022, but underlying mining's enormous contribution to the …

SA Mine 2023 (15th edition)

South Africa's mining sector delivered a sterling performance in the past year, despite several local and global challenges. ... The growth in the mining industry confirms the resilient nature of the sector and the opportunities that exists in rebuilding the South African economy. Download previous editions. Previous editions: SA Mine 13th ...

Sustainable mining needs sustainable practices: …

In early 2021, the Minerals Council South Africa published a report highlighting how the country's mining industry was increasing its use of technological innovation to transform the sector. Investments in …

How Mining Impacts the Economy in South Africa: …

1. Job Creation: Mining operations require a large workforce in South Africa, including miners, engineers, and support staff, making it a significant source of job creation. This can help reduce unemployment and boost economic activity in areas where mines are located. In recent years, South Africa has seen a rise in the number of …

The final shape of South Africa's new mining charter

In the first draft of the current charter it called for a top-up of black ownership to 30% in a year, while the later draft in 2017 gave mining companies five years to increase the levels. For existing mines however, there is no required increase in the final draft. "The removal of the top-up from 26%-30% is important," says Chabana.

Minerals and Mining Policy of South Africa: Green Paper

1.5.2 Intent. The aim of the policy will be to develop South Africa's mineral wealth to its full potential and to the maximum benefit of the entire population. Government, therefore, will promote the establishment of secondary and tertiary mineral-based industries aimed at adding maximum value to raw materials.

Outlook for the South African mining industry

South Africa's mining industry remains a critical component of the economy; a potential flywheel for upstream manufacturing, downstream beneficiation, and horizontal spillovers. If we are to address the …

How does the mining sector impact the South African …

Currently, inadequate power supply is costing the South African economy approximately R1 billion a day and disrupting mining operations. As such, the DMRE …

South African Mining 2024 Outlook: Navigating Challenges …

by Adenike Adeodun January 30, 2024. The year 2023 proved to be an exceptionally demanding period for the global mining industry, with South Africa facing multifaceted and far-reaching challenges. These challenges have pushed the sector into a state of crisis-mode management, which has become the norm in the management of South African …

Outlook for the South African mining industry

The 2016 Fraser Institute Survey of global mining companies placed South Africa 74th out of 104 surveyed jurisdictions for 'mining investment attractiveness', down from 57th of 112 in 2013. While …

Six ways South Africa is boosting critical minerals industry

Ensuring secure power supply. Currently, inadequate power supply is costing the South African economy approximately R1 billion ($55.3 million) a day, and …

The Data On Legalizing Weed : Planet Money : NPR

Opponents said it would increase violent crimes. ... That's more than the mining industry. Legalization is good for state budgets — Tax revenue from legal recreational marijuana has surpassed ...

Social and public health implications of the legalisation of

Globally, poverty is associated with poor health-compromising behaviours, and cannabis dependence is greater amongst communities that are socio-economically compromised. 70,81 The increase in the use of cannabis, which is a result of legalisation, will thus continue to increase the socio-economic disparity in South Africa, pushing …

Boosting South African mining competitiveness

February 14, 2023. South Africa's mining sector has historically contributed significantly to economic growth and employment – and the country has the clear potential to strengthen its position as a supplier of critical minerals if the industry can overcome the challenges that constrain its development, according to the Boston Consulting Group.

Violence adds to uncertainty for South African mining

South Africa's mining industry faces decline without international investment, but political uncertainty and civil unrest only impedes hopes to rejuvenate it. ... Mining unquestionably remains one of South Africa's most important economic sectors, contributing 8-10 per cent of national GDP and, on average, each of its almost half a …

Mining Industry Trends and Outlook in South Africa: …

Dublin, Feb. 16, 2024 (GLOBE NEWSWIRE) -- The "Mining Industry Trends in South Africa 2023" report has been added to ResearchAndMarkets's offering.. The latest market research publication ...

The Economic Benefits of Marijuana Legalization

In 2021, Washington collected $559.5 million of legal marijuana revenue, over $85 million more revenue than 2020. Meanwhile, Colorado collected $423 million of marijuana tax revenue in 2021, up ...

South Africa: Corruption Affecting The Mining Industry: …

During a panel discussion at the 2024 Investing in Africa Mining Indaba, held in Cape Town in the week of 5 February, panellists engaged on the main corruption risks in mineral supply chains, the steps companies should take to adequately address bribery and corruption risks, challenges and opportunities for law enforcement and the …

South Africa's mining output on persistent decline

South Africa's annual decline in mining output has persisted for eight months, according to data from Stats SA. Mining production decreased by 4.5 per cent in September, with the largest …

THE MINERALS COUNCIL PUBLISHES FACTS & FIGURES …

perception of South Africa as mining investment destination. In 2022, the mining industry: • The direct contribution to GDP grew by 4% to R494 billion (2021: R475 billion). • The percentage contribution of mining to the economy was 7.53% (2021: 7.56%). • Employed 475,561 people (2021: 458,954).

Facts & Figures pocketbook 2022 published by

South Africa's mineral production achieved a fresh record high of R1.18 trillion in 2022, up from R1.1 trillion in 2021, which was the first time the industry topped the trillion-rand mark. Production value was driven by strong commodity prices, giving the domestic economy a vital injection of higher taxes to bolster the fiscus, increase ...

How does the mining sector impact the South African economy?

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. Finance currently accounts for 20% of GDP, with the state …

Mining industry sustainability hinges on energy, logistics …

The sustainability of the South African mining industry and its ability to play a meaningful and positive role in society and the economy are dependent on urgent and …

A bold new future for African Mining at the 2024 Mining …

The current increase in our Gross Domestic Product (GDP) by R 248 million ($13,1 million) is a testament to just how crucial the Mining industry is to the South African economy. The Minister of Mineral Resources and Energy, Gwede Mantashe has highlighted that despite the economic challenges, the government has initiatives aimed …

What is the role of manufacturing in boosting economic …

The Political Economy of South Africa: From Minerals-energy Complex to Industrialisation. Freeman R. 2006. The Great Doubling: The Challenge of the New Global Labor Market. Millin M. & Nichola T. 2005. Explaining economic growth in South Africa: a Kaldorian approach. International Journal of Technology Management & Sustainable …

Logistics, energy challenges remain for Mining Indaba host South Africa

The National Treasury estimates the economic cost of rail inefficiency in 2023 was about 5.5% of gross domestic product. This has hit the mining industry hard, Mavuso said.

6 Ways South Africa is Boosting the Critical Minerals Industry

Increasing Mineral Exploration. As part of efforts to address the decline in minerals production – with January 2023 marking the twelfth consecutive month-to-month decline – South Africa's Department of Mineral Resources and Energy (DMRE) unveiled a large-scale exploration campaign targeting discoveries and the opening up of new …

South Africa Moves Closer to Cannabis Legalization

The National Assembly in South Africa approved on Tuesday, November 14, a bill for the private use of cannabis, marking a significant step towards the legalization of personal cannabis use. This development follows the 2018 Constitutional Court ruling which ended the prohibition of cannabis in South Africa. However, as with any cannabis …

South Africa: The Energy Transition: Opportunities For The South

The Energy Transition: Opportunities For The South African Mining Industry. The race to attain net-zero by 2050 requires mining companies to prepare themselves to respond to the demands of a low carbon economy. To do this, they should start adopting sustainable mining practices and other nimble solutions suitable for their …

2024 Budget highlights strains on the South African mining …

Implementing the global minimum corporate tax. This proposes that from 1 January 2024, South African multinationals with annual revenue exceeding €750 million will have an effective tax rate of at least 15%, regardless of where the profits are earned. This is in line with the OECD's base erosion and profit-sharing framework.

How Does Mining Contribute To The Economy Of South Africa…

The mining industry is a major contributor to the South African economy, with over US$16 billion in revenue generated in 2014. The sector employs around 176,000 people, provides significant tax revenue and supports other economic sectors. Mining has a significant impact on the economy of South Africa, contributing significantly to GDP.