South African Made Canadian News story!!

Hi Hows things in your mining industry? A story in our Toronto,Ontario Canada newspaper was in regards to South Africa having trouble in recovering untapped wealth in your mining industry.Is mining a large imployer in your country.We have great mineral wealth as well,also Diamonds where discovered in are Far North 10 ,or so yrs ago.All the best johnny

South Africa has huge mineral wealth, I think we provide three quarters of the world platinum. Energy coal is also huge this side. We just have some idiots running unions and so on that cause a lot of shit.

South Africa has the 5th biggest mining sector in the world. We don't fcuk around here .

I live in one of SA's richest alluvial diamond mining areas and know a thing or two about diamonds. I have family in the business as well, but the private diamond mining industry can either make you a millionaire or bankrupt you in weeks. Its a tough business with lots of political interference.

There are many gold mines in the area as well, but those are all run by the big mining industries and I know nothing about their workings.


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The mining industry is what pays my salary so I know one or two things about it. We have 80% of the world's know platinum deposits. Gold is in a major hold pattern as its becoming very expensive to mine at the depths we now have to go to, but even with this, we have only mined about 50% of the known gold deposits.
The platinum price is currently in the tank and the joint products like chrome and Nickel is suffering even more.

Diamond mines were on the decline, badly, until Petra Diamonds bought most of the less profitable De Beers mines.

I also worked on the De Beers, Snap Lake Project in Canada which is one of the most profitable Diamond mines around.

Mining is indeed a important industry here. Diamand mining is going through a tough patch. De Beers closed a big (if not all) of the Namakwaland mines. It is a huge company. Problem is that there are actually still allot of diamonds but to reach it they would have to change their mining mechanism totally. This would be to expensive. De Beers (anglo american) have lots of collaboration with diamond mining in Canada.

China currently owns a large percentage of mineral rights in Africa. These guys are buying up mines left right and centre. They do well by creating good infrastructure in those areas but what will the result be in the long run? I think they actually own allot more mineral rights and shares in the mining industry here in SA that the public would like to know. With all the Chinese money getting pumped in here and our circus government just eccepting and "stealing" allot of it, we are practically their bitch (same as the US).

Australia currently have a problem with their currency being over valued and the main reason is because their mining industry actually is doing very well (also with a shitload of Chinese money). The rest of their economy is in shit streat because they don't get money for their exports on account of their own currency being so strong. This is the reason why it is important to have a balanced economy. a Large part of the US economy is/was based on the fact of getting cheap products from China. Now the Chinese people want to earn more money and they are beginning to voice their unhappiness and inforce "human rights" (rightfully so). This will lead to all kinds of shit, not only for the Chinese government but also for the countries, like the US, who is banking on cheap imports from China

Anyway, this is my take on it.

Apart from Zuma's buddies bankrupting some of them, flooding JoBurg and surrounds with Acid Water etc? Quite well thanks you.