South Africa’s resources endowment is more valuable than any other endowment anywhere else in the world. In the ground are $2.5-trillion worth of potential riches, much more than in Russia and Australia. The battered and bruised industry already makes up a fifth of the South African economy in delivering R468-billion worth of gross domestic product and underpinning 1.3-million jobs. With a little bit of national focus, it could quickly add another 200 000 direct jobs by doubling iron-ore production, lifting coal output to 355-million tons a year and trebling manganese production, which would raise its contribution to export revenue well above the current 50% mark. What are we waiting for? Let’s get on with it.
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