mining strikes effect on south african economy graph

South Africa''s economic challenges

2014-5-6 · Mining is regarded as the bedrock of the South African economy, but in truth it contributes less than 10% to overall economic activity. However, commodity exports account for almost 60% of foreign ...

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Global Financial Crises and its Impact on the South ...

2017-10-2 · This article aims to investigate the main factors that triggered recent global financial crises and its impact on the South African economy. An attempt is made in this paper to shed a light on global financial crises between 1980 and 2012 and provides a discussion on its impact on the South African economy.

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Mining Strike Impacts South African Economy | Voice …

2014-3-20 · Mining Strike Impacts South African Economy. FILE - Miners gather at Wonderkop stadium outside the Lonmin mine in Rustenburg, northwest of Johannesburg, Jan. 30, 2014. RUSTENBURG, SOUTH AFRICA ...

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effects of gold mining on south africa

Technological Innovation and Effect on the Opening of New Gold South Africa In its Potential, Gold mining projects are generally very large and are. ... Friedrich James The effects of a changing gold price on the South African gold mining industry, University of South Africa, Pretoria, ... Potential South African Labor Strikes Will Affect Platinum.

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The Social and Environmental Consequences of Coal …

2013-3-12 · The concentration of capital in gold mining gave the South African economy its basic structure organized around six dominant groupings of capital which extend into manufacture, banking and retail, but have at their basis a historic investment in mining. Coal mining played a supportive role as provider of energy to the growing gold

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Mining Strike Impacts South African Economy | Voice …

2014-3-20 · Mining Strike Impacts South African Economy. March 20, 2014 08:27 AM ... wildcat strikes that erupted periodically in 2012, rooted in a turf war between AMCU …

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Economy slips into recession | Statistics South Africa

2020-3-3 · Economy slips into recession. The South African economy contracted by 1,4% in the fourth quarter of 2019, following a contraction of 0,8% (revised) in the third quarter. 1 Transport and trade were the main drags on overall activity, according to the latest gross domestic product (GDP) figures. Seven of the ten industries contracted in the fourth quarter.

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Effects of the Mining Strikes on the South African …

2014-3-5 · But economists are concerned that continued strikes in major mining companies could damage the South African economy and hold back growth and employment. This comes as reports indicate that more than 70,000 platinum mineworkers downed tools in Rustenburg on January 23.

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South Africa''s economy in 5 charts | World Economic …

 · While around 2.3 million South Africans escaped poverty between 2006 and 2015, the 2018 World Bank report on Overcoming Poverty and Inequality in South …

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The economic impact of load shedding: The case of South ...

2019-12-11 · the most important components of the South African economy. The retail sector is one of the largest industries in the South African economy accounting for 14.8% of GDP in 2014 (Statistics South Africa, 2015). It is an important driver of consumption and is characterised by high linkages and spill overs. The retail industry is a

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Study examines impact of strikes on S African economy

2018-10-26 · Photo by Bloomberg INCREASED INTENSITY The Mandela Initiative has found that strikes are more intense and come at greater time and cost to firms and gross value added cost to the economy, than in ...

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Why South Africa''s Mining Strikes Are Symptoms of a …

2012-9-11 · The economic effect of the South African Mining Strikes. ... The strikes are symptomatic of a larger more systemic fault line within the South African political economy and thus we are likely to ...

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Miners'' strikes add to fears of South African economic ...

2012-9-26 · It did so after complaints about the impact of the recent strikes in the mining industry on an economy showing signs of stagnation. In an address to the Congress of South African Trade Unions ...

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2014 South African platinum strike: longest wage …

2014-10-24 · The South African mining industry shed 20,000 jobs in the 12 months leading to June 2013, and that trend was set to continue due to low margins, cost pressures and volatile commodity prices. Additionally, labour costs in the mining sector account for 45% to 50% of total cost, while the global average was 30 to 40% of total cost, with employee ...

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Problems in the mining industry in South africa

The current turbulence in the mining industry in South Africa has its roots in several different factors. First, the fall in global demand for platinum and other minerals due to recession; second, the consequences of the Marikana disaster in destabilising labour relations; and third, the structural character of our mining industry. A great deal has been written about the first two factors, so ...

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The effects of strikes in the South African gold mining ...

2021-3-26 · strikes in the mining sector are a common annual occurrence in South Africa, with an average of 1 030 workdays lost per annum for every 100 workers from 2007 to 2011, where the unions negotiate for higher wage rates in order to benefit union members

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TRADE UNIONS IN AN EMERGING ECONOMY The Case …

2014-8-14 · and economic instability in the South African economy at the time (Van der Berg and Bhorat 1999). In the labour market specifically, the 1973 wildcat strikes – both spontaneous and widespread – were a watershed event in the country''s labour movement history, and forced

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South Africa Economic Outlook | African Development …

Recent macroeconomic and financial developments South Africa''s real GDP growth was 0.2% in 2019. The pandemic and the containment measures to curb the spread of the virus further damaged the economy. Real GDP contracted by 8.2% in 2020, the result of a decline in construction, transport and communication, manufacturing, and mining. On the demand side, all components declined,

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Impact of Covid-19 on the South African economy

2020-10-7 · Impact of Covid-19 on the South African economy iii Notes: Agri&ff = Agriculture, fishing and forestry, Trdacc = Trade and accommodation services, Fin&bs = Financial and business services. Figure ES2: Impacts on value added for broad industries for the full shock, as percentage deviations

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Troubles in South Africa''s mining sector start to affect ...

2012-10-14 · In fact, Deutsche estimates that the economic cost of the strikes could rise from 2.5pc of South Africa''s GDP to 3pc if the strikes in the transport sector worsen the impact of the mining unrest.

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Mining strike hits SA macro and micro economy

2014-3-20 · Mining strike hits SA macro and micro economy. As South Africa''s biggest post-apartheid mine strike marks its eighth week on Thursday, it is already denting …

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Economic growth | Statistics South Africa

2021-6-29 · The South African economy grew by 1,1% in the first quarter of 2021 (January–March), translating into an annualised growth rate of 4,6%.1 This follows a revised 1,4% (annualised: 5,8%) rise in real gross domestic product (GDP) in the fourth quarter of 2020. The finance, mining and trade industries were the main drivers of output on read more ».

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The Impact of the 2014 Platinum Mining Strike in …

2021-5-3 · The strike lasted five months, ending in June 2014 when producers reached an agreement with the main labour unions. The immediate impacts on local mining towns were particularly severe, but our research shows that the strike could also have long lasting negative impacts on the South African economy as a whole.

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Mining strikes shrink South Africa''s economy

2014-5-28 · Mining strikes shrink South Africa''s economy. Months of mining strikes in South Africa pushed its economy into contraction in the first quarter of this year, and with no resolution in sight, the ...

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Mining and minerals in South Africa | Brand South Africa

2012-8-16 · With South Africa''s economy built on gold and diamond mining, the sector is an important foreign exchange earner, with gold accounting for more than one-third of exports. In 2009, the country''s diamond industry was the fourth largest in the world. South Africa is also a major producer of coal, manganese and chrome.

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The heavy toll of coal mining in South Africa ...

2015-4-2 · The heavy toll of coal mining in South Africa. South Africa''s coal-powered energy sector brings environmental devastation despite legal regulations. Emalahleni, South Africa – Everything in ...

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A century of migrant labour in the gold mines of South …

2009-8-26 · mining operations and its labour fell away from 1941 and stayed depressed until the mid-1950s (g, Figure 1). Although South Africa came out of the war reasonably well, the gold price was low and conditions for labour were poor, strikes broke out; one in 1946 involved 60 000 of the 300 000 men

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South Africa GDP From Mining | 1993-2021 Data | …

GDP From Mining in South Africa increased to 223908.40 ZAR Million in the first quarter of 2021 from 214791.96 ZAR Million in the fourth quarter of 2020. GDP From Mining in South Africa averaged 232418.52 ZAR Million from 1993 until 2021, reaching an all time high of 251119.50 ZAR Million in the fourth quarter of 2006 and a record low of 157032.07 ZAR Million in the second quarter of 2020.

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The Role of Mining in the South African Economy

mining sectors to aggregate output in the South African economy, rather than with the aggregate volume of sales of the sector.4 Over the 1970-98 period, the proportional contribution of the mining sector to total value added in the South African economy has more than halved, declining from 21.3% in1970, to 9.9% of the private sector''s GDPin 1998.

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The effects of a changing gold price on the South …

The effect of the higher gold price can be clearly seen when the fore-going figures are compared with the 1971 totals of gold production of 97 6,600 kilogr ams, revenue of R396 million from gold, lease and tax payments of approximately R139 million, and dividends of R142 million . Despite a decline in gold production, revenue is expected to be ...

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South Africa counts economic impact of coronavirus ...

2020-3-16 · South Africa. Experts say the coronavirus outbreak has taken a heavy toll on South Africa''s economy. The country has recorded the highest level of infection of Covid-19 in the southern Africa ...

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STRIKES AND INDUSTRIAL ACTIONS | South African …

Increasing African unemployment, coupled with a sluggish economy, may also have had a deterrent effect on strike activity. Because of the nature of state repression in South Africa, issues involved in any single strike can easily be connected with the struggle against the whole social order, the entire ruling class, and are not restricted to ...

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The Impact of the 2014 Platinum Mining Strike in South ...

2014-11-28 · The Impact of the 2014 Platinum Mining Strike in South Africa: An Economy-Wide Analysis Bohlmann, H.R., Dixon, P.B., Rimmer, M.T. and Van Heerden, J.H. November 12, 2014 Abstract In this paper we measure the economy-wide impact of the 2014 labour strike in South Africa''s platinum industry. The strike lasted …ve months,

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