An Overview of South Africa’s Mining and Transport Sector.
While much of the world staggered in the wake of the global financial meltdown, South Africa has managed to stay on its feet. South Africa’s economy has been traditionally known for its mining sector, which got it worldwide recognition for its rich resources and plentiful reserves.
The country is a leading supplier of a variety of minerals and mineral products that are exported to 87 countries. Each year, approximately 55 different minerals are produced from more than 700 mines, with gold, platinum, coal and diamonds dominating exports and revenue earnings. Mining industry has been facilitating economic development, uplifting society, addressing unemployment, poverty and inequality. But of late the transport industry has also caught up and is contributing in a major way to the GDP and exports.
The contribution of exports of motor vehicle parts & accessories and other transport equipment to South Africa’s merchandise exports to the rest of the world contributed 2.8 per cent in 1994 and currently contributes at 9.2 per cent.