{"id":57859,"date":"2023-12-10T18:27:19","date_gmt":"2023-12-10T18:27:19","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-mining-sector-sitting-on-a-ticking-time-bomb-says-analyst"},"modified":"2023-12-10T19:44:08","modified_gmt":"2023-12-10T19:44:08","slug":"south-africa-mining-sector-sitting-on-a-ticking-time-bomb-says-analyst","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/south-africa-mining-sector-sitting-on-a-ticking-time-bomb-says-analyst","title":{"rendered":"South Africa: Mining sector \u2018sitting on a ticking time bomb\u2019, says analyst"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>South Africa\u2019s mining industry may be facing its swan song if drastic action is not taken soon.<\/p>\n

South Africa\u2019s mining industry has made headlines recently with warring unions, hostage situations, deadly incidents, and illegal mining gangs pointing to a sector in trouble.<\/p>\n

The latest incident occurred on Monday at South African mine Impala Platinum where 11 workers were killed and 75 seriously injured after a lift coming to the surface dropped about 200m.<\/p>\n

A report by big four auditing firm PwC supports what analysts have been saying for some time \u2013 mining in South Africa is on the decline.<\/p>\n

According to the report, the country\u2019s iron ore industry may only have 13 more years left, while gold is expected to run out in less than three decades.<\/p>\n

Staring down the barrel<\/b><\/p>\n

\u201cPeople have their heads in the sand,\u201d says mining analyst David van Wyk. \u201cThings are changing in the country and the industry.\u201d<\/p>\n

Lead researcher at the Bench-Marks Foundation, van Wyk says the industry in its current state may be facing its final days.<\/p>\n

\u201cLarge-scale industrial mining is a sunset industry,\u201d he tells The Africa Report. \u201cNo one wants to admit that it is not sustainable.\u201d<\/p>\n

The solution now, he asserts, is to focus on small- and medium-scale mining and renewable energy projects.<\/p>\n

Treating the symptom, not the cause<\/b><\/p>\n

Earlier this month, South Africa\u2019s President Cyril Ramaphosa ordered over 3,000 military personnel to help in the fight against illegal mining activity, which reportedly costs the country billions of dollars annually.<\/p>\n

Illegal miners, known as zama zamas, operate country-wide and have wreaked havoc on local communities, including cases of gang rape and missing persons as well as deadly explosions.<\/p>\n

But could Ramaphosa\u2019s enlistment of the army, called \u2018Operation Prosper\u2019, be a red herring?<\/p>\n

\u201cThe mining industry is contributing to the zama zamas,\u201d says van Wyk, who argues that mass layoffs leave workers with few options to ensure their survival. \u201cSending in the army won\u2019t create jobs.\u201d<\/p>\n

White elephants<\/b><\/p>\n

Mining towns across the country are suffering as old, deserted mines affect not only the economy but also the environment.<\/p>\n

Hoards of mine workers have been laid off with mine closures, particularly gold mines. The impact of the job cuts on smalltown communities has been devastating.<\/p>\n

The future of the mining industry in South Africa looks bleak, with van Wyk suggesting the country is on the precipice of a \u201cpost-mining nightmare\u201d.<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. South Africa\u2019s mining industry may be facing its swan song if drastic action is not taken soon. South Africa\u2019s mining industry has made headlines recently with warring unions, hostage situations, deadly incidents, and illegal mining gangs pointing to a sector in trouble. The latest incident occurred on Monday at South African mine […]<\/p>\n","protected":false},"author":84,"featured_media":57858,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,275],"class_list":["post-57859","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nSouth Africa: Mining sector \u2018sitting on a ticking time bomb\u2019, says analyst - South Africa<\/title>\n<meta name=\"description\" content=\"South Africa\u2019s mining industry may be facing its swan song if drastic action is not taken soon. 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