Sheila Khama

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The quarry near Carletonville, west of Johannesburg, known as 'Africa's best mineral' quarry. Photo by MARCO LONGARI/AFP via Getty Images.

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 million strong labour force providing income for nine dependents.

But South Africa’s share of the global mining exploration expenditure dropped a staggering 20.5 per cent in 2020 to rank only sixth in Africa and represent less than one per cent of the global exploration spend – its lowest place in decades and a devastating position for a country whose geological attractiveness should protect its status as a top global player.

Despite still being valued at $77.4 million, this huge reduction in exploration has adverse knock-on effects for the pipeline of planned investment in brownfield, mid-stream and downstream mineral value chain projects, and the supply chain, all of which will shrink the industry at least for the foreseeable future.…  Seguir leyendo »