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South Africa is a very mineral rich country. This is known the world over. The question then is which mineral brings in the most money for South African companies mining these minerals? There are a number of possible front runners. Gold, Platinum group metals (PGM), Copper, Coal, or perhaps Iron Ore?
The stacked chart below shows the Rand value of various commodities from January 2003 to January 2016. Discussion on the stacked chart below the chart. |
From the above stacked chart, one can see the massive increase in the bottom orange graph (Coal). In 2003 Coal contributed 21% to total sales of commodities, as at January 2016, Coal contributed around 32% of total commodity sales. Platinum group metals (PGM) surged in 2008 and contributed over 30% of total commodity sales in that year. This has dropped off since and as at January 2016, PGM only contributes 21.7% to total sales of commodities.
The commodity South Africa is best known for, Gold, contributed around 30% of total commodity sales in 2003. As at January 2016, this has dropped to around 18%. Essentially Gold has been smashed by Coal since early 2007, as the value of Gold sales have not been higher than Coal sales since early 2007.
So of Johnannesburg is called the city of Gold, should we not call Ermelo the city of Coal?
The commodity South Africa is best known for, Gold, contributed around 30% of total commodity sales in 2003. As at January 2016, this has dropped to around 18%. Essentially Gold has been smashed by Coal since early 2007, as the value of Gold sales have not been higher than Coal sales since early 2007.
So of Johnannesburg is called the city of Gold, should we not call Ermelo the city of Coal?