South Africa's economy was built on the mining industry. But the sector has been in decline for decades. Mining contributed R312 billion, or 6.8%, to South Africa's GDP and 464 667 direct jobs in 2017, a far cry from the 21% contribution to GDP in the 1970's.
Over the past two decades, 6 000 mines have been abandoned and a large number are expected to be closed in the next ten years. As one consulting analyst and engineer in mining puts it, "we are in mine closure inducement mode right now". Fixed investment in the industry has been shrinking over the past 10 years, while almost 30 000 jobs have been lost since 2014.
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