South Africa's mining, tourism brace for virus buffeting

China holds a special place in the economy of Africa's most industrialised country which slid into recession in the last quarter of 2019.

With China's growth expected to slow as a result of COVID-19, the demand for minerals is also expected to take a knock potentially affecting commodity prices and costing the industry millions.The International Monetary fund has forecast a one percent decline in growth in the Chinese economy due to coronavirus.

The second recession the continent's most industrialised economy has suffered since President Cyril Ramaphosa came to power in 2018, poses more headaches for the reformist leader. The second-strongest economy in Africa behind Nigeria, South Africa is the world's top producer of platinum and a leading supplier of gold, diamonds and other minerals.

China is ranked the seventh largest origin of foreign visitors to South Africa with 97,000 tourists holidaying at the country's game reserves and other sites in 2018.

Source: Financial Digest (financialdigest.net)

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