South Africa is reported to be preparing itself for the next wave of commodities boom, with gold mining in particular set to undergo something of a re-birth in the near future.
According to news portal miningweekly.com, there’s something of a mixed outlook ahead for the South African mining industry. While the gold sector could be on the rise again, weak demand for diamonds, copper, iron ore and platinum is set to continue in the short term.
Furthermore, a number of obstacles need to be overcome before any boom can be exploited, such as skills shortages and problems over electricity supply.
The mining industry is engaging with government and labour to ensure that the sector is ready to take advantage of the next commodities boom, South Africa’s Chamber of Mines (CoM) chief economist Roger Baxter reportedly said of late.
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