Sunday, December 1African Digital Business Magazine

Tag: South African mining companies

South Africa News

How does the mining sector impact the South African economy?

Mining has had a larger impact on shaping the South African economy than any other sector. It transformed a predominantly rural economy into an industrial one. It resulted in the development of Kimberley, Johannesburg, and other cities. It attracted massive amounts of foreign cash. It required the creation of stock exchanges, colleges, and other contemporary institutions. Exploiting tiny veins of gold up to four kilometers (almost two and a half miles) below the earth's surface necessitated the development of extremely high levels of competence. It aided in the formation of the nation's job markets. It attracted a large number of South Africans out of discrete segments and into paid work. In addition to that, the mining industry attracted a big amount of laborers from broader countries, wh...