Peter Major, a mining specialist at Cadiz Corporate Solutions, warns against assuming current conditions will prevail since the mining industry in the country has changed so much over the last few decades that the old rules no longer apply. “South Africa is the world’s richest country in terms of mineral resources. We have more resources than Russia and the US combined. This was the greatest mining country in the world for 100 years, but it’s not anymore.”
He indicated that government interference, the power of unions and turf wars between them, and Black Economic Empowerment laws, have all contributed to a deep fall in mine productivity.