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Jul 06, 2017This is not actually the price of bitcoin in South Africa, it is simply the converted price from USD to ZAR of the bitcoin price. This is not the same as the market rate on one of the bitcoin exchanges in South Africa, based on the supply and demand for bitcoin on that exchange.
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9 SA Mine 9th edition ighlighting trends in the South African mining industry wC 10. Gold's share of mining revenue decreased to 16% from the 18% in 2016. The decrease in total revenue of R2 billion to R69 billion was mainly as a result of lower production. Iron ore's share increased to 11% from 9% due to a R10 billion increase in revenue.
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Despite this apparently strong position, South Africa has fallen short of its potential over the last decade. South Africa's GDP of $578B US is 5.6 times the sub-Saharan average, but only a quarter of the OECD average, indicating much unmet potential. Unemployment has remained high, never falling below 15%, and recently as high as 24%.
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Platinum mining in South Africa, also called PGM mining or Platinum Group Metals mining, is rife with South Africa holding over 80% of the world's platinum group metal reserves. This is evidenced with the country currently having in excess of 80 PGM mining projects, the majority held by only 11 platinum mining companies.
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