OVERVIEW
Mining The platinum province is also rich in many other minerals.
T
here are nearly 300 active mines in the North West and the sector contributes 31.3% of regional gross domestic product. A large number of families rely on the income earned on mines, with about 18% of total employment in the province coming from mining. The North West Province is aligned with the Western Limb of the Bushveld Igneous Complex, a remarkably rich mineral formation. Mines in the province produce 50% of the platinum produced in the world, and 65% of South Africa’s platinum group metals. Chromite is the other major mineral mined throughout the province, and there are several ferrochrome smelters and other processing plants. Gold and uranium are found along the border of the province with Gauteng and the Free State (in Klerksdorp and Orkney). Diamonds are mined at Christiana, Bloemhof and Lichtenburg. Lichtenburg is also the centre of the cement industry. Other minerals found in the North West include fluorspar, vanadium, rhodium, uranium, copper, limestone, slate, phosphate, manganese, coal and nickel. There are also significant stone and granite operations. Volatility in global markets has led to the price of platinum dropping very steeply, leading to large-scale lay-offs at some mines, but analysts believe that the price will recover in 2017. AngloGold Ashanti, which has five gold mines on the border of North West and the Free State provNORTH WEST BUSINESS 2017
30
SECTOR INSIGHT A platinum special economic zone is being established to attract investors. • S e p h a k u C e m e n t ’s Lichtenburg clinker plant produces 6 000 tons per day. • There are new owners for platinum and chrome assets. ince, and employs nearly 25 000 across all its operations in South Africa, is considering reducing its workforce. All companies operating in South Africa are expected to register with the Unemployment Insurance Fund (UIF) so that