Economics and Statistics Research Journal (ESRJ)

OPPORTUNITIES AND OBSTACLES IN IMPLEMENTING SOCIAL AND LABOUR PLANS IN SOUTH AFRICA'S MINING SECTOR

Authors

  • Samantha Grace Williams Faculty of Management, School of Tourism and Hospitality, University of Johannesburg, South Africa.

Abstract

Mining has been a cornerstone of South Africa's economic development, serving as a key driver of the national economy for over 50 years. Despite its relative decline in recent years, with manufacturing and the finance and service sectors overtaking it in terms of contribution to GDP, mining continues to play a vital role in South Africa’s economy. Official data indicates that the mining sector accounts for 7.9% of the GDP, with indirect multiplier effects raising this contribution to approximately 18.4%. In 2006, mining contributed R140 billion to South African exports, making up 32.3% of national merchandise exports and 25.2% of total foreign exchange earnings. The sector directly employs around 458,600 workers, accounting for 3% of the economically active population, and indirectly supports the welfare of many more. This paper examines the enduring significance of the mining sector in South Africa's economy, considering its contributions to GDP, exports, employment, and overall economic stability in the face of a shifting economic landscape.

Keywords:

Mining sector, Economic development, South Africa, GDP contribution, Employment

Published

2024-07-30

DOI:

https://doi.org/10.5281/zenodo.13134523

Issue

Section

Articles

How to Cite

Williams, S. G. (2024). OPPORTUNITIES AND OBSTACLES IN IMPLEMENTING SOCIAL AND LABOUR PLANS IN SOUTH AFRICA’S MINING SECTOR. Economics and Statistics Research Journal (ESRJ), 15(2), 14–28. https://doi.org/10.5281/zenodo.13134523

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