| Summary: | 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.
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