The economic consequences of the discovery of gold and diamöd in south africa
The discovery of diamonds and then gold in South Africa brought a rush of prospectors to the country and had significant effects on the history of South Africa, [ both politically and economically.Gold remained the backbone of the South African economy, contributing massively to state revenue and earning large quantities of foreign exchange for most of the twentieth century. In 1978, no less than 36 mines were producing almost 700 tons a year - roughly half of the world's total production. Only in the last two decades of the twentieth century did South Africa's gold production begin to
decline significantly. ]
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Asked 9/16/2012 11:43:29 AM
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