Economy of South Africa

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South Africa is the Southernmost country of the African continent. It is bordered by Botswana
and Zimbabwe to the North, Namibia by Northwest, Mozambique & Swaziland by Northeast
and Lesotho by East. The country possesses two islands -Prince Edwards & Marion in Indian
ocean about 1900 kms. from Southeast of Capetown.The country is renowned for its great
natural beauty & cultural diversity which the country a favorable destination for Travelers
since 1994. Its major cities Johannesburg, Capetown, Pretoria, Durban & Bloemfontein are
the centers of its executive, judicial, commerce & industrial centers. It has a relatively stable
economy on agricultural land and abundant mineral resources.
The country has a well developed mature large scale mining sector for over 100 years.The
country's Platinum group metals reserves expected to last another about 335 years and Coal
for 256 years. It represents 8% of GDP of South Africa with total annual income of 500
Billion Rands (local currency) with 50,000 workers directly employed & largest contributor
to Black economy empowerment.
Mining in South Africa began with a chance recovery of a Diamond on the banks of Orange\
river in 1867. The alluvial diamond were spread over a wide area initially in yellow earth
and then below in Blue hard rock after rapidly developing Diamond mining town Kimberley.
By 1880, mines around Kimberley produced 95% of the world's diamonds. About 40% of
world's total Gold reserves are found in the Wit Waters Rand area. North eastern part of South
Africa is famous for Diamond and Platinum mining. The Mponeng Gold Mine at the southwest
of Johannesburg is currently the deepest mine in the world. Its operating depth ranges from
2.4 Kms. to 3.9 Kms below surface by the end of 2012.
Its main trading partners are UK, USA, Germany, China, Japan and Spain. Its main exports
Gold, Diamond, Fruit, Corn, Metals, sugar and Minerals.


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