South Africa has many selling points, including its wildlife, scenic landscapes, and rich history.
While these attractions often lead the conversation, many may not realise the significant role mining plays in the country.
In South Africa, the mining industry drives economic growth, contributing around 5.8% to the national growth domestic product (GDP), according to the Minerals Council South Africa.
Mining contributed around R439.2 billion ($37.9 billion) to the country’s GDP in 2025.
Just last week, Mining.com.au reported that the South African rand has been trading at a multi-month high at ZAR15.9925 against the US dollar on 26 August, up 0.8% from its previous close.
Today (31 August), Trading Economics reports the rand at ZAR16.17 against the US dollar, representing a 1% weekly increase.
The mining industry alone generated ZAR1.1 trillion in turnover and ZAR813.6 billion in mineral exports last year, playing a driving role in the country’s export output.
By delivering more than ZAR100 billion in fiscal revenues through corporate taxes, royalties, and value-added tax (VAT), the mining industry has remained a cornerstone of South Africa’s economy, dating back to the mid-1800s.
Operations started at the first commercial copper mine in 1852, located on the western outskirts of Springbok.
Around 1,200km to the northeast of Springbok is the Witwatersrand Basin — an area where gold mining dates back 140 years.
The Witwatersrand Basin was discovered in 1886 and became the world’s largest gold producer, according to SRK Consulting.
The area dominated much of the world’s gold supply for the next decade, with operations reaching depths of 4,000m and hosting natural rock temperatures of around 50°C.
The Witwatersrand Basin is the largest gold resource globally, stretching for more than 400km across South Africa. It has produced more than 2 billion ounces of gold, according to Minerals Council South Africa.
Australian-listed explorer West Wits Mining (ASX:WWI) is an emerging producer targeting the Witwatersrand Basin for its gold resources.
At its Witwatersrand Basin Project in South Africa, West Wits is advancing phase one of its Qala Shallows underground mine after achieving a maiden gold pour in March 2026 and delivering its first ore.
The company achieved financial close and received its first drawdown of ZAR339 million from a greater ZAR875 million senior loan facility with Absa Bank and Nedbank CIB last month.
Funding is expected to take the Qala Shallows Project through to steady-state production comprising 70,000 ounces of gold per annum.
The project hosts a resource of 7.24 million ounces @ 4 grams per tonne gold.
West Wits Mining is an explorer, developer, and producer of precious and base metals with assets in the Central Rand Goldfields of South Africa and Western Australia.
Write to Maddison Elliott at Mining.com.au
Images: Minerals Council South Africa
