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Mines rescue S. African economy


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Mines rescue S. African economy
Demand for precious metals, coal bolster slow recovery
by
PRINESHA NAIDOO AND FELIX NJINI BLOOMBERG NEWS (WPNS)
|
Today at 2:03 a.m.
Lights from miners’ safety helmets illuminate the mine shaft during a media tour of the Sibanye-Stillwater Khuseleka platinum mine outside Rustenburg, South Africa, in 2019.
(Bloomberg (WPNS)/Waldo Swiegers)
The world s deepest precious-metals mines, together with giant iron-ore and coal pits are providing an unexpected boon to a South African economy slowly recovering from its biggest contraction in a century.
Surging demand and prices for commodities including platinum-group metals, iron ore, manganese and coal are generating record mining-company profits and bolstering government revenue. That s even as decades of dwindling output and investor reluctance to build new mines blights prospects for the industry. ....

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