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Q: Discuss in details the economic consequences of the discovery of gold and diamond in south africa
A: The South African mining industry has been the mainstay of the South African economy for over a century. Gold and diamonds are the two highly valued products of the country. [ South Africa accounted for 15% of the world's gold production in 2002 and 12% in 2005. Despite declining production, South Africa's gold exports were valued at $3.8 billion USD in 2005. Almost 50% of the world's gold
reserves are found in South Africa. Ever since the Kimberley diamond strike of 1868, South Africa has been a world leader in diamond production. ]
Expert answered|may100|Points 1426|
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Asked 8/25/2012 9:03:58 AM
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