Mining - the foundation of the economy

It can be said that mining is the foundation of the South African economy as it is upon the mining industry that the economy of South Africa was and is built.

Prior to the discovery of gold, coal and diamonds, the South African economy was based on agriculture.

Mining continues to support and stimulate growth and development in the country. Mining companies contribute extensively to South Africa’s tax base; rail, road and port development is more often than not spurred on by the development of new and extended mining operations; new towns are established in mineral rich areas; it attracts new investment into the economy; it leads the way in empowerment, skills development and transformation; and it injects over R40-billion into the economy via wages.

Mining together

The mining industry today does not function in isolation. Overall strategies and decisions take place through consultation within the tripartite structures and involve business, government and labour.

This is realised in such forums as the Mine Health and Safety Council, Business Unity South Africa, the Growth and Development Summit, Nedlac, the Joint Implementation on Priority Skills Acquisition and the Mining Qualifications Authority where business, government and labour engage in sometimes vigorous debate on the future of the mining industry in South Africa.

These interlocking forums ensure the overall health of the industry for the benefit of all South Africans.