Despite Vast Riches, South African Mining Losing It’s Shine

Finance and Trade
26/10/2015 09:31

With demand for South Africa's natural resources dropping, the economy is falling dramatically short of its predicted growth levels. Growth was 5.6 percent in 2007 but this year is seen dropping below 2 percent. Once considered the economic jewel in Africa's crown, South Africa has been overtaken by Nigeria as the largest economy on the African continent. The country has been battered by a range of issues, with industrial relations being at their lowest levels since the end of apartheid, widespread claims of corruption in the ruling African National Congress party (ANC) and among executives in industry, splits in the trade unions, and violent incidents at picket lines, including the shooting by police of 30 strikers in 2012 which has created huge tensions between workers and the authorities.