The Minerals Commission says South Africa is underinvested in new mineral exploration-Shanghai Metals Market

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The Minerals Commission says South Africa is underinvested in new mineral exploration

Translation 08:27:28AM Aug 21, 2019 Source:Business Office of the Embassy in South Africa
The content below was translated by Tencent automatically for reference.

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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Key Words:  South Africa  new minerals  gold 

The Minerals Commission says South Africa is underinvested in new mineral exploration

Translation 08:27:28AM Aug 21, 2019 Source:Business Office of the Embassy in South Africa
The content below was translated by Tencent automatically for reference.

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.

Scan QR code and apply to join SMM metal exchange group, please indicate company + name + main business

 

Key Words:  South Africa  new minerals  gold