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South Africa mined gold production, 1940–2011. South Africa accounted for 15% of the world's gold production in 2002 [23] and 12% in 2005, though the nation had produced as much as 30% of the yearly world output as recently as 1993.
A 2011 study published by the University of Cape Town about the richest 10% found that nearly 40% are black, where this group had once been almost exclusively white. [173] While only 29% of the absolute wealthiest [ vague ] South Africans are black, this jumps to 50% among the "entry-level" rich (defined as earning more than $4,000 per month ...
The farm near Johannesburg where gold was first discovered in 1886. The Mineral Revolution is a term used by historians to refer to the rapid industrialisation and economic changes which occurred in South Africa from the 1860s onwards.
In 2004, De Beers pled guilty and paid a US$10 million fine to the United States Department of Justice to settle a 1994 charge that De Beers had colluded with General Electric to fix the price of industrial diamonds. [115] [116] In 2008, De Beers agreed to pay a US$295 million class-action settlement after accusations of price fixing. [117]
The British South Africa Company (BSAC or BSACo) was chartered in 1889 following the amalgamation of Cecil Rhodes' Central Search Association and the London-based Exploring Company Ltd, which had originally competed to capitalize on the expected mineral wealth of Mashonaland but united because of common economic interests and to secure British government backing.
The Migrant Farmer in the History of the Cape Colony.P.J. Van Der Merwe, Roger B. Beck. Ohio University Press. 1 January 1995. 333 pages. ISBN 0-8214-1090-3. History of the Boers in South Africa; Or, the Wanderings and Wars of the Emigrant Farmers from Their Leaving the Cape Colony to the Acknowledgment of Their Independence by Great Britain ...
One theory is that it is named after two state surveyors who were sent to choose an area for the layout of the new town, Johann Rissik and Christiaan Johannes Joubert. [14] Within 10 years, the town was the largest in South Africa, growing faster than Cape Town, which was more than 200 years older. The gold rush saw massive development of ...
The Free State Gold Rush was a gold rush in Free State, South Africa. It began after the end of World War II , even though gold had been discovered in the area around the year 1934. [ 1 ] [ 2 ] It drove major development in the region until the mid–to–late 1980s as part of the mineral revolution in South Africa.