Difficult times face South Africa’s economy. ‘Three strikes and you’re out’ is the call in baseball. South Africa’s mining industry has had three strikes and then some more and, now, the world market is taking note of, and acting in response to, this state of ongoing uncertainty. The question is whether South Africa is going to have a greatly reduced mining industry or not. Already, this country has one in four people unemployed. However, if one compares our economy to a boat, the rate of unemployment is rather like the rate at which a boat can take on water. All boats leak a bit and take on water, and some boats can leak quite a lot and still their pumps can keep them afloat. But once the rate of water inflow exceeds the capacity of the pumps, the boat sinks.
Download PDF version: MRA_7_2013
Click to read the digital magazine below