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Free State Business 2017 edition

Free State Business 2017 is the seventh edition of this highly successful publication that has since its launch in 2008 established itself as the premier business and investment guide to Free State Province. Supported and utilised by the Free State Development Corporation (FDC), Free State Business is unique as a business journal that focuses exclusively on the Free State.

Free State Business 2017 is the seventh edition of this highly successful publication that has since its launch in 2008 established itself as the premier business and investment guide to Free State Province. Supported and utilised by the Free State Development Corporation (FDC), Free State Business is unique as a business journal that focuses exclusively on the Free State.

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Mining<br />

Diamond mines are expanding production.<br />

OVERVIEW<br />

Although the mining sector is no longer dominant, coal-, gold<br />

and diamond – mining still make up an important part of the<br />

<strong>Free</strong> <strong>State</strong> economy. Reduced global and domestic demand<br />

have affected coal and gold miners and employment is<br />

down, but diamond production is on the up.<br />

The mining sector has seen significant changes in the last three<br />

years, and further changes are in store. Two of the most significant<br />

events were the unbundling of Gold Fields and the decision by Anglo<br />

American to concentrate on three minerals – copper, platinum and<br />

diamonds. Both affect the mining sector in the <strong>Free</strong> <strong>State</strong>.<br />

Sibanye Gold came into existence as a result of Gold Fields’ decision,<br />

and it quickly became the largest producer of gold in South Africa.<br />

Sibanye Gold is responsible for Beatrix in the <strong>Free</strong> <strong>State</strong>, but most of<br />

its gold assets are in Gauteng. Sibanye has bought several platinum<br />

assets and may be a buyer of some of Anglo American’s coal mines.<br />

The Sunday Times reported in July 2016 that Sibanye had paid out about<br />

SECTOR INSIGHT<br />

Petra Diamonds increased<br />

revenue by 44% in 2016.<br />

• Newcomer, Sibanye<br />

Gold, has paid out nearly<br />

R3-billion in dividends.<br />

R2.8-billion in dividends since it<br />

was established in 2013.<br />

Coal is mostly found in the<br />

northern part of the <strong>Free</strong> <strong>State</strong><br />

and the gold fields, which form<br />

part of the Witwatersrand Basin,<br />

stretch from north of Welkom to<br />

south of Virginia.<br />

45 FREE STATE BUSINESS <strong>2017</strong>

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