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The Expansion of Mining, 1933–61

In: The South African Economy, 1910–90

Author

Listed:
  • Stuart Jones

    (University of the Witwatersrand)

  • André Müller

    (University of Port Elizabeth)

Abstract

From the time when gold was first mined in South Africa, fears were regularly expressed that the gold-mining industry was nearing its peak and that its demise was imminent. This warning was again sounded in 1930 when the government mining engineer, Hans Pirow, estimated that the zenith of production would be reached in 1932, after which production would fall rapidly. Concerned about the dire economic consequences of this scenario, the government immediately appointed the Low Grade Ore Commission, which submitted its report only in 1932. The Commission agreed with Pirow that at the current price of gold, large quantities of low-grade ore were unpayable and were being left underground. It therefore stressed the need to reduce costs in every possible way. A reduction in wages seemed inevitable. Fortunately for South Africa, Pirow’s predictions proved incorrect and the life of the industry was extended by devaluations, which caused increases in the price of gold, and by the discovery of new deposits, as well as by persistent attempts by the mines to raise the efficiency of their operations.

Suggested Citation

  • Stuart Jones & André Müller, 1992. "The Expansion of Mining, 1933–61," Palgrave Macmillan Books, in: The South African Economy, 1910–90, chapter 11, pages 150-166, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-22031-1_11
    DOI: 10.1007/978-1-349-22031-1_11
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