Discuss the uses and economic value of the mineral. Estimate south africa's global reserves and production of thise mineral

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Chemistry

Saul Collier

21 August, 08:03

Discuss the uses and economic value of the mineral. Estimate south africa's global reserves and production of thise mineral

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Danika Maxwell · Answer 1

Creates one million jobs (500 000 direct and 500 000 indirect).

Accounts for about 18% of GDP (8.6% direct, 10% indirect and induced).

Is a critical earner of foreign exchange at more than 50%. Accounts for 20% of investment (12% direct).

Attracts significant foreign savings (R1.9-trillion or 43% of value of JSE).

Accounts for 13.2% of corporate tax receipts (R17-billion in 2010) and R6-billion in royalties.

Accounts for R441-billion in expenditures, R407-billion spent locally.

Accounts for R78-billion spent in wages and salaries. Accounts for 50% of volume of Transnet’s rail and ports.

Accounts for 94% of electricity generation via coal power plants.

Takes 15% of electricity demand.

About 37% of the country’s liquid fuels via coal.

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.