Economist calls on South Africa to sa...

Economist calls on South Africa to save pivotal gold-mining industry

Posted in the Top Stories Forum

Since: Oct 13

Montréal, Canada

#1 Oct 7, 2013
JOHANNESBURG – Steps must be taken to halt the rapid decline of South Africa’s crucial gold-mining industry, economic strategist Chris Hart urged on Thursday.

Hart, who was delivering the keynote address at the Tenova Mining & Minerals Symposium in Johannesburg, warned that if steps were not taken timeously, the industry on which the South African economy had been founded would be in danger of losing its critical mass.

Conversely, if the country set out to save the gold-mining industry, it stood to benefit from gold's pivotal economic contribution for another 100 years.

South Africa, the Investment Solutions chief strategist pointed out, had fallen from being the world’s biggest gold producer to the number six position, despite still having an abundance of gold reserves in the ground.

South Africa, Mining Weekly Online can report, has fallen below lowly Peru, with a mere 6% contribution to total global gold production, from a massive 68% contribution in the past.

http://goo.gl/P2qjlP
No Surprise There

Blacklick, OH

#2 Oct 7, 2013
Isn't South Africa run by black Africans now?

Since: Oct 13

Landsmeer, Netherlands

#3 Oct 7, 2013
I wouldn't get back to any point regarding the colour of the skin of the governing class in South Africa. I would rather recall the attention of the voters about how can impact changes by deciding on the next election's opportunity!
No Surprise There

Blacklick, OH

#4 Oct 7, 2013
valemica wrote:
I wouldn't get back to any point regarding the colour of the skin of the governing class in South Africa. I would rather recall the attention of the voters about how can impact changes by deciding on the next election's opportunity!
Way to ignore the 800 lb gorilla in the room and hang your hopes on Coca-Cola song lyrics. The one thing every failed or failing sub-Sahara African nation has in common is a corrupt black-led government. North of the Sahara it's Islamic led governments doing the damage. Africa has returned to being a shamble.

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