SMM News: according to South Africa's independent media website, the South African Mineral Commission said that there is not enough investment in new mineral exploration, South Africa's mining industry attracted only 1% of the global exploration, and it should account for 5% of the global exploration. Currently 90 per cent of mining investment is spent on maintaining the operation of existing projects and infrastructure.
In 2018, the mining industry's contribution to gross domestic product (gdp) was estimated at 7.3 per cent, a growth rate of 1.2 per cent, slightly higher than the overall economic growth rate. The report further points out that the failure of the state power company Eskom is one of the main challenges facing the mining industry, and electricity is an important part of the total input cost of mining, especially in the gold and platinum industries.
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