Abstract
M.Com. (Economics)
The objective of the thesis was to examine the relationship
between the grade of ore, physical electricity consumption
and working cost in the South African gold mining industry
for the period 1965 - 1982.
The South African economy is heavily dependent on the gold
mining industry, which is a major earner of foreign exchange
and a large consumer of labour and agricultural and industrial
output. The industry is also important as a source
of finance for both the private sector and the Treasury.
Curtailment of activity within the industry by closing
down the more marginal mines or by shortening the life of
the industry' as a whole because of rising costs and/or a
hesitant gold price, will harm the South African economy
in a number of ways. The industry has no option but to
regard the gold price as given. The remaining ore reserves
tend to be of a lower grade and/or to be found at greater
depth. Controlling the working costs would seem to be almost
the only option open to the industry.