As part of the South African government grand plan to reverse economic exclusion of the majority black in the country. A new mining regulatory charter has been announced on Thursday, that will see employees of (and surrounding communities) get a free stake at mining companies.
Although the mining industry now accounts for just eight percent of the country’s gross domestic product. The industry did lay the bedrocks that raised South Africa into becoming the most industrialized economy on the continent.
However, much of the gains earned from the exploitation of the country’s natural resources has not gone towards improving the socio-economic welfare of the black majority. Then again, some would argue the black majority have historically not gained much out of wealth generating ventures in the Southern Africa country, which was ruled under apartheid until just very recently.
The murky policies that have bedeviled Mining Industry in SA
The mining industry is not performing as well as it used to in the past, due to depressed prices, murky policies, and increasing costs. Mining sites around the country have been a flashpoint of social and labor unrest. There are a …read more