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  - WN.COM - Africa - 12/Jul 15:51

Mining’s revival must also deal with its legacy

Mining is still central to the South African economy. It employs roughly 480 000 people directly. With an estimated dependency ratio of 10 to one, the industry essentially supports close to five million people. That’s a twelfth of the country’s population. Demand for minerals and metals is not slowing down. But our gold mining sector will close down at some stage — even current high gold prices cannot sustain going deeper because of safety risks and the associated expense. There will come a point where marginal cost exceeds marginal benefit. Outside of gold, South Africa should be a global mining powerhouse. For the past 20 years, however, there has been very little exploration or production...

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