Abstract
This chapter considers two options that could potentially provide employment benefits for African workers, namely: the downstream processing into jewellery and, the upstream production of capital goods and intermediate inputs into the gold mining sector. Coupled with a large number of mines becoming marginal, and with the prevalence of economies of scale, African policy makers and leaders have said that they wish to create employment by trying to lever their gold resources in such a way as to attain greater value addition through beneficiation. Beneficiation i.e. the creation of forward linkages or simply put e.g. the transformation of gold into gold jewellery. This objective is very much at the heart of political and aspirational documents of African leaders such as the African Mining Vision as well as regional industrial policies. It should however be noted that the world’s biggest producers of jewellery are India and China. And for the former there are almost no mineral resources. The most important and tangible driving force for African countries in terms of gold beneficiation is the 4.3 million Indian citizens employed in the production of jewellery (which includes gold, diamonds and other metals and gems). In many cases these Indian producers are making use of gems and precious metals coming from African countries as the country has few operating mines producing these commodities. While beneficiation is potentially the most beneficial in terms of possible employment creation, it is the least commercially propitious.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Notes
- 1.
Chamber of Mines, South Africa, Database—not publicly available.
- 2.
See Chamber of mines South Africa. (2017). Facts and Figures 2016. Chamber of mines South Africa. Downloaded from: https://www.mineralscouncil.org.za/industry-news/publications/facts-and-figures/send/17-facts-and-figures/442-facts-and-figures-2016 - page 13.
- 3.
Rogers, W.P., et al. (2019) ‘Automation in the Mining Industry: Review of Technology, Systems, Human Factors, and Political Risk’ Mining, Metallurgy & Exploration, Vol. 36: Issue 4, pp. 607–631.
- 4.
Drew Bellamya and Luka Pravicab (2011) Assessing the impact of driverless haul trucks in Australian surface mining’ Resources Policy Volume 36, Issue 2, pp. 149–158. ‘Mine of the Future’—Rio Tinto www.riotinto.com › Australia › Pilbara › mine-of-the-future-9603 downloaded September 2019.
- 5.
Du Venage, Gavin ‘Fully Automated Sublevel Caving Goes Live in Mali’. Engineering and Mining Journal; Jacksonville Vol. 220, Issue 1 https://search.proquest.com/openview/900d9177f664f658a8f114992c0e052e/1?pq-origsite=gscholar&cbl=39 downloaded September 2019. See also Mining Weekly (7th February 2019) ‘Sandvik, Resolute gear up for the fully automated Syama gold mine’ https://m.miningweekly.com/article/sandvik-resolute-gear-up-for-the-fully-automated-syama-gold-mine-2019-02-07/rep_id:3861 downloaded September 2019.
- 6.
Mining engineers consider that beneficiation begins once the ore is extracted from the ground. However, this definition of beneficiation is not widely accepted by economists, who create a distinction between processing and beneficiation. See Kaplinsky M.M. and Kaplan R.D (2012). ‘One Thing Leads To Another: Promoting Industrialization by Making the Most of the Commodity Boom in Sub-Saharan Africa’, Open University Commodities Programme, p. 24, www.commodities.open.ac.uk accessed 2017.
- 7.
In mine engineering beneficiation means added value to the production of ore or concentrate.
- 8.
Botswana which is a small miner but very significant in diamond mining has attempted to develop backward linkages with only very limited success. See K Koitsiwe, and T Adachi. (2017). ‘Linkages between mining and non-mining sectors in Botswana’ Mineral Economics, Volume 30, Issue 2, pp. 95–105.
- 9.
Department of Trade and Industry Republic of South Africa. (2018). Industrial Policy Action Plan 2018/19–2020/21. Downloaded from: https://www.gov.za/sites/default/files/gcis_document/201805/industrial-policy-action-plan.pdf you can see also Republic of Namibia. (2016). HARAMBEE PROSPERITY PLAN 2016/17–2019/20. Downloaded from: http://www.op.gov.na/documents/84084/572904/HPP.pdf/3c5b6d5f-3394-4302-aeec-bd10ca58a119 Ministry of trade and Industry Republic of Namibia. (2013). Namibia’s Industry Policy. Downloaded from: http://www.mti.gov.na/downloads/namibian%20industrial%20policy.pdf.
- 10.
SADC Secretariat, ‘SADC Industrial Development Policy Framework’, 2012, p. 21, http://www.sadc.int/files/2013/8969/0505/Final_SADC_Industrial_Development_Policy_Framework.pdf, accessed 2017: The Southern African region produces significant quantities of major metals and minerals such that it contributes substantially to world production to the extent of about 53% of vanadium, 49% of platinum, 40% of chromite, 36% of gold, 50.1% of diamonds, 20% of cobalt. Given this remarkable contribution to world production, it is imperative that these minerals are beneficiated in the region. Value-added processing, or beneficiation, involves the transformation of the raw material using local factors (labour and capital) into a semi or finished product that has a higher value than the sale of the raw material.
- 11.
The African Mining Vision (2009, p. 3), http://www.africaminingvision.org/amv_resources/AMV/Africa_Mining_Vision_English.pdf downloaded November 2017. ‘Beneficiation encourages a knowledge-driven African mining sector that catalyses and contributes to the broad-based growth and development of a fully integrated single market through down-stream linkages into mineral beneficiation and manufacturing.’
- 12.
The Africa Mining Vision alludes to how ‘the experience of resource-based development and industrialization in the Nordic countries reveals that the sustainability and success of this strategy depends on favourable external and internal factors such as natural resources endowments and proactive and deliberate actions from key stakeholders, particularly governments. Specifically, action is required to: … Establish an industrial base through backward and forward linkages’ among various objectives. See pages 2–3 of the African Mining vision. Retrieved from: http://www.africaminingvision.org/amv_resources/AMV/Africa_Mining_Vision_English.pdf.
- 13.
Not all parts of the gold jewellery value chain are labour intensive and indeed some parts, such as the making of chains has become automated.
- 14.
See Marchi, V. D., and Grandinetti, R. 2014. Industrial Districts and the Collapse of the Marshallian Model: Looking at the Italian experience. Competition and Change, 18(1), 70–87 and Luciana Lazzeretti, Francesco Capone & Rafael Boix (2012) Reasons for Clustering of Creative Industries in Italy and Spain, European Planning Studies, 20:8, 1243–1262, https://doi.org/10.1080/09654313.2012.680585. However, Luciana Lazzeretti, et al. assert that, ‘Creative industries are less concentrated in Italy, though they are present mainly in the centre and north of the country in big cities like Rome, Turin, Milan, Florence, Trento and Padua’.
- 15.
Pilloni, A. (2013). Italy’s Gold Sector: Decline & Fall. Bullion Vault, Gold News. Retrieved from: https://www.bullionvault.com/gold-news/italy-gold-101820136.
- 16.
It should be noted and reiterated that even though the reputation of Italy’s jewellery industry has diminished, Italian jewellery is still highly. See Searce in cooperation with Krijger, M. (2011). Gold Jewellery in Italy. CBI Ministry of Foreign affairs of the Netherlands, V. D., Leeb, J., and Gereffic, G. 2013. Globalization, Recession and the Internationalization of Industrial Districts: Experiences from the Italian Gold Jewellery Industry. European Planning Studies, 22(4), 866–884.
- 17.
Op. cit. Pilloni, A. (2013). Italy’s Gold Sector: Decline & Fall.
- 18.
See Trenti, S., and Banca Intesa SPA. (2007). Italy’s Gold Districts. Is this the end of the crisis? The London Bullion Market Association, Alchemist, 46; Pilloni, A. (2013). Italy’s Gold Sector: Decline & Fall. Bullion Vault, Gold News; and Searce in cooperation with Krijger, M. (2011). Gold Jewellery in Italy. CBI Ministry of Foreign affairs of the Netherlands.
- 19.
See Ibid. Searce in cooperation with Krijger, M. (2011); and Marchia, V. D., Leeb, J., and Gereffic, G. (2013). Globalization, Recession and the Internationalization of Industrial Districts: Experiences from the Italian Gold Jewellery Industry. European Planning Studies, 22(4), 866–884.
- 20.
Op. cit. Pilloni, A. (2013). Italy’s Gold Sector: Decline & Fall.
- 21.
See Marchia, V. D., Leeb, J., and Gereffic, G. (2013). Globalization, Recession and the Internationalization of Industrial Districts: Experiences from the Italian Gold Jewellery Industry. European Planning Studies, 22(4), 866–884; Marchi, V. D., and Grandinetti, R. (2014). Industrial Districts and the Collapse of the Marshallian Model: Looking at the Italian experience. Competition and Change, 18(1), 70–87; Trenti, S., and Banca Intesa SPA. (2007). Italy’s Gold Districts. Is this the end of the crisis? The London Bullion Market Association, Alchemist, 46; and Pilloni, A. (2013). Italy’s Gold Sector: Decline & Fall. Bullion Vault, Gold News.
- 22.
See Ibid. Searce in cooperation with Krijger (2011); Pilloni, A. (2013); and Marchi and Grandinetti (2014).
- 23.
Ibid. Searce in cooperation with Krijger (2011) and Reuters (2012). Italy loses gold jewellery exporter top spot. Retrieved from: https://www.reuters.com/article/precious-italy-jewellery/italy-loses-gold-jewellery-exporter-top-spot-idUSL5E8M1ERH20121102 where it is asserted that even though exports are declining, ‘Italy is seen as an international trend-setter in jewellery design’.
- 24.
Hofmeester, K. (2013). ‘Shifting Trajectories of Diamond Processing: From India to Europe and back, the fifteenth century to the twentieth’. Journal of Global History, Vol. 8 pp. 25–49.
- 25.
Between 1947–1962 the import of gold was prohibited and in 1963 the government passed Gold Control Orders-contained tight controls on gold-related activities. This continued through to 1968 when the Gold Control Act-contained tight controls on gold related activities was passed. Finally in 1990 the government repealed the gold Control Act and allowed large export houses to import gold freely. The process of gold and diamond market liberalisation continued in the twenty-first century. See Chellam K.C. ‘Jewellery Industry In India’ (2018) International Journal of Marketing and Technology Vol. 8 Issue 2, February 2018.
- 26.
See Trenti, S., and Banca Intesa SPA. (2007). Italy’s Gold Districts. Is this the end of the crisis? The London Bullion Market Association, Alchemist, 46; Pilloni, A. (2013). Italy’s Gold Sector: Decline & Fall. Bullion Vault, Gold News; Marchia, V. D., Leeb, J., and Gereffic, G. 2013. Globalization, Recession and the Internationalization of Industrial Districts: Experiences from the Italian Gold Jewellery Industry. European Planning Studies, 22(4), 866–884 and; Marchi, V. D., and Grandinetti, R. 2014. Industrial Districts and the Collapse of the Marshallian Model: Looking at the Italian experience. Competition and Change, 18(1), 70–87.
- 27.
The information for this is section is taken in part from the Integrated Executive Summary by the United States Of America India—Export Related Measures (DS541) U.S. Integrated Executive Summary April 30, 2019.
- 28.
Article 27 of the SCM Agreement provides a limited exception to Article 3.1(a), India no longer qualifies for that limited exception as its real GNI now exceeds the threshold of USD 1000 in real 1990 dollars. See Bhattacharya, R. (2018). Are India’s Export Subsidies Overstaying Their Welcome? The wire. Retrieved from: https://thewire.in/trade/are-indias-export-subsidies-overstaying-their-welcome.
- 29.
Press Information Bureau Government of India. August 2016 https://pib.gov.in/newsite/PrintRelease.aspx?relid=148539 downloaded.
Ministry of Commerce & Industry At the time of introduction on April 1, 2015, MEIS covered 4914 tariff lines. In that year it had annual allocation of Rs. 18,000 Crore by Department of Revenue. In light of the major challenges being faced by Indian exporters in the backdrop of the global economic slowdown, government increased support for export of various products and included some additional items under the Merchandise Exports from India Scheme (MEIS) in October, 2015. MEIS currently incentives were expanded to a total 5012 tariff lines. The estimated allocation to Rs. 21,000 Crore. Thereafter, as a measure of ease of doing business and to reduce transaction cost, the requirement of landing certificate for claiming MEIS has been dispensed with by giving global coverage to 2787 lines which did not have such coverage earlier. This which raised the envisaged allocation to Rs. 22,000/- Crore per annum in 2016.
- 30.
The Hindu September 14, 2019 ‘Uncertainty ends for exporters with new incentive scheme, but details sought’ https://www.thehindubusinessline.com/economy/uncertainty-ends-for-exporters-with-new-incentive-scheme-but-details-sought/article29418366.ece downloaded September 2019.
- 31.
WTO, Trade Policy Review Body (2015) ‘Trade Policy Review Report by the Secretariat–India’ WT/TPR/S/313.
- 32.
The Hindu, September 2019 ‘Govt restores duty-free replenishment facility for jewellery exporters’ https://www.thehindubusinessline.com/economy/govt-restores-duty-free-replenishment-facility-for-jewellery-exporters/article29320923.ece downloaded September 2019.
- 33.
The conditions for LBMA accreditation as refinery, while not onerous, do constitute a significant barrier to entry to the industry. The LBMA refinery conditions include the following provisions: (a) the applicant has been in existence for not less than five years and has been involved in refining operations of the metal for which it is applying for Good Delivery status for not less than three years prior to the application; (b) the applicant has an established annual refining production (which need not be in the form of standard bars) of not less than 10 tonnes in the case of gold, or not less than 50 tonnes in the case of silver; (c) the applicant has a tangible net worth of not less than the equivalent of 15 million pounds sterling or such figure as the LBMA may from time to time determine; (d) the applicant’s ownership, financial standing and reputation would allow it to satisfy the KYC (Know Your Customer) tests practiced in the London bullion market. (e) in the case of gold applications, the applicant must implement the LBMA Responsible Gold Guidance prior to accreditation. See http://www.lbma.org.uk/assets/market/gdl/GD_Rules_16_July_FINAL_20190722.pdf.
- 34.
This is below the 10 tonnes of throughput needed for LBMA accreditation.
- 35.
HO Haugen. (May 2017). ‘Petty Commodities, serious business: the governance of the fashion jewellery chains between China and Ghana’ Global Networks: A Journal of Transnational Affairs.
- 36.
Op. cit. Pers com CEO Jewellery Council of South Africa, 2017.
- 37.
GFMS Thompson Reuters ‘GFMS 2017 Gold Survey’ page 45.
- 38.
Over the three years to 2017, South Africa has been a leading user of gold for the purposes of producing Krugerrands which have grown in domestic demand substantially due to the protracted decline in the value of the South African Rand and other economic concerns.
- 39.
The so-called Millennials (those born between 1985–2000) appear to be far less interested in accumulating gold than their parents even in countries like China. Indeed the jewellery and gold media been replete with articles regarding the changing preferences of this market segment. The World Gold Council suggested that ‘younger Chinese, in particular, prefer to spend their incomes on experiences such as travel rather than on material things, including gold jewellery’. Increasingly in the world’s biggest gold market diamonds and platinum as well as wearable high fashion items are creating significant competition for gold in China. This phenomenon of decreased gold demand amongst the younger generation is being seen in a number of markets but China is by far the most significant. In India Millennials appear to have a stronger affinity to gold than that which exists in China. In a recent study of Indian gold demand by the WGC it was estimated that the income elasticity of demand for gold was unity. The WGC study asked what they would do if they were given Rs. 50,000, 33% of millennials replied they would buy gold, as opposed to 42% of those aged 34 and above. Significantly gold ownership and demand was far more prevalent in the rural areas than in urban areas of India and this trend is likely to continue with rising incomes and increased urbanisation see World Gold Council (2017) ‘India’s Gold Market: Evolution and Innovation’ https://www.gold.org/download/file/5377/india_gold_market_innovation_and_evolution.pdf downloaded August 2017.
- 40.
McKinsey & Company (2014) ‘A multifaceted future: The jewelry industry in 2020’ https://www.mckinsey.com/industries/retail/our-insights/a-multifaceted-future-the-jewelry-industry-in-2020 downloaded August 2017.
- 41.
The quantitative work was undertaken by Dr Paul Jourdan and was published in Jourdan, P., Grynberg, R., and Singogo, F. (2018). Gold, Economic Transformation and Regional Integration in Africa. African Technology Development Forum Journal, 9(2):3–22. It is reproduced with his permission.
- 42.
See Jourdan, P., Grynberg, R., and Singogo, F. (2018). Gold, Economic Transformation and Regional Integration in Africa. African Technology Development Forum Journal, 9(2):3–22.
- 43.
From 2001 to 2013 capex averaged ~20% of sales (turnover) on SA mines (Stats SA, 2015).
- 44.
David Kaplan (2011) ‘South African mining equipment and related services: Growth, constraints and policy’.
MMCP Discussion Paper No 5, University of Cape Town and Open University https://pdfs.semanticscholar.org/1212/f20214883e65dda2b567ed8cf1ca4b565d8a.pdf downloaded September 2019; Walker, M.I. & Minnitt, R.C.A., 2006. ‘Understanding the dynamics and competitiveness of the South African minerals inputs cluster,’ Resources Policy, vol. 31(1), pages 12–26 see also Fessehaie J. (2015) The Regional Value Chain for Mining Capital Equipment: Linkages and Firm Upgrading in South Africa and Zambia, TIPS Annual Forum 2015regional Industrialization And Regional Integration Johannesburg, South Africa 14–15 July 2015 http://www.tips.org.za/files/fessehaie_the_regional_value_chain_for_mining_capital_equipment.pdf downloaded September 2019.
- 45.
The Seychelles were zeroed (=50% eligibility) due to its outlier GDP/capita ($16k: distorts the range) and its lack a mining sector.
- 46.
The indigenous multiplier would presumably not be applicable to Mauritius as it was unpopulated when colonised (by the Dutch, French, then British).
- 47.
Variable geometry refers to the differential application of rules and disciplines based upon divergent levels of RMC industrialisation, development, HDI, etc.
- 48.
E.g. Brazil in Mercosur, the US in NAFTA and, to some extent, Germany in the EU.
- 49.
See United Nations Industrial Development Organization and United Nations Conference on Trade and Development. (2011). Economic Development in Africa Report 2011 Fostering Industrial Development in Africa in the New Global Environment. Economic Development in Africa Report 2011. UNITED NATIONS. Downloaded from: https://unctad.org/en/Docs/aldcafrica2011_en.pdf. Page 15. Where they illustrate that sub-Saharan Africa’s level of industrialisation has declined.
References
Book/Book Chapter
Kaplinsky, M. M., & Kaplan, R. D. (2012). One thing leads to another: Promoting industrialization by making the most of the commodity boom in sub-Saharan Africa. Open University Commodities Programme.
Articles/Journals
Bellamya, D., & Pravicab, L. (2011). Assessing the impact of driverless haul trucks in Australian surface mining. Resources Policy, 36(2), 149–158.
Chellam, K. C. (2018). Jewellery industry in India. International Journal of Marketing and Technology, 8(2).
Du Venage, G. (2019). Fully automated sublevel caving goes live in Mali. Engineering and Mining Journal, 220(1) Retrieved from https://search.proquest.com/openview/900d9177f664f658a8f114992c0e052e/1?pq-origsite=gscholar&cbl=39.
Haugen, H. O. (2017, May). Petty commodities, serious business: The governance of the fashion jewellery chains between China and Ghana. Global Networks: A Journal of Transnational Affairs, 18(2), 307–325.
Hofmeester, K. (2013). Shifting trajectories of diamond processing: From India to Europe and back, the fifteenth century to the twentieth. Journal of Global History, 8, 25–49.
Jourdan, P., Grynberg, R., & Singogo, F. (2018). Gold, economic transformation and regional integration in Africa. African Technology Development Forum Journal, 9(2), 3–22.
Kaplan, D. (2011). South African mining equipment and related services: Growth, constraints and policy. MMCP Discussion Paper No 5. University of Cape Town and Open University. Retrieved from https://pdfs.semanticscholar.org/1212/f20214883e65dda2b567ed8cf1ca4b565d8a.pdf.
Koitsiwe, K., & Adachi, T. (2017). Linkages between mining and non-mining sectors in Botswana. Mineral Economics, 30(2), 95–105.
Lazzeretti, L., Capone, F., & Boix, R. (2012). Reasons for clustering of creative industries in Italy and Spain. European Planning Studies, 20(8), 1243–1262. https://doi.org/10.1080/09654313.2012.680585.
Marchi, V. D., & Grandinetti, R. (2014). Industrial districts and the collapse of the Marshallian model: Looking at the Italian experience. Competition and Change, 18(1), 70–87.
Marchia, V. D., Leeb, J., & Gereffic, G. (2013). Globalization, recession and the internationalization of industrial districts: Experiences from the Italian gold jewellery industry. European Planning Studies, 22(4), 866–884.
Rogers, W. P., Kahraman, M. M., Drews, F. A., Powell, K., Haight, J. M., Wang, Y., Kritika, B., & Mohitet, S. (2019). Automation in the mining industry: Review of technology, systems, human factors, and political risk. Mining, Metallurgy & Exploration, 36(4), 607–631.
Walker, M. I., & Minnitt, R. C. A. (2006). Understanding the dynamics and competitiveness of the South African minerals inputs cluster. Resources Policy, 31(1), 12–26.
Magazine
Cloete, K. (2019, February 7). Sandvik, resolute gear up for the fully automated Syama gold mine. Mining Weekly. Retrieved from https://m.miningweekly.com/article/sandvik-resolute-gear-up-for-the-fully-automated-syama-gold-mine-2019-02-07/rep_id:3861.
News/Newspapers
Brough, D. (2012, November 2). Italy loses gold jewellery exporter top spot. Reuters. Retrieved from https://www.reuters.com/article/precious-italy-jewellery/italy-loses-gold-jewellery-exporter-top-spot-idUSL5E8M1ERH20121102.
Govt restores duty-free replenishment facility for jewellery exporters. (2019, September 2). The Hindu Business Line. Retrieved from https://www.thehindubusinessline.com/economy/govt-restores-duty-free-replenishment-facility-for-jewellery-exporters/article29320923.ece.
Uncertainty ends for exporters with new incentive scheme, but details sought. (2019, September 14). The Hindu Business Line. Retrieved from https://www.thehindubusinessline.com/economy/uncertainty-ends-for-exporters-with-new-incentive-scheme-but-details-sought/article29418366.ece.
Government Documents
Department of Trade and Industry Republic of South Africa. (2018). Industrial policy action plan 2018/19–2020/21. Retrieved from https://www.gov.za/sites/default/files/gcis_document/201805/industrial-policy-action-plan.pdf.
Ministry of Trade and Industry, Republic of Namibia. (2013). Namibia’s Industry Policy. Retrieved from http://www.mti.gov.na/downloads/namibian%20industrial%20policy.pdf.
Press Information Bureau Government of India, Ministry of Commerce & Industry. (2016). Merchandise export from India scheme. Retrieved from https://pib.gov.in/newsite/PrintRelease.aspx?relid=148539.
Republic of Namibia. (2016). Harambee prosperity plan 2016/17–2019/20. Retrieved from http://www.op.gov.na/documents/84084/572904/HPP.pdf/3c5b6d5f-3394-4302-aeec-bd10ca58a119.
SADC Secretariat. (2012). SADC industrial development policy framework. Retrieved from http://www.sadc.int/files/2013/8969/0505/Final_SADC_Industrial_Development_Policy_Framework.pdf.
Reports
African Union. (2009). The African mining vision. Retrieved from http://www.africaminingvision.org/amv_resources/AMV/Africa_Mining_Vision_English.pdf.
Chamber of Mines South Africa. (2017). Facts and figures 2016. Retrieved from https://www.mineralscouncil.org.za/industry-news/publications/facts-and-figures/send/17-facts-and-figures/442-facts-and-figures-2016 - page 13.
Fessehaie, J. (2015). The regional value chain for mining capital equipment: Linkages and firm upgrading in South Africa and Zambia. In TIPS annual forum 2015 regional industrialization and regional integration. Johannesburg, South Africa. Retrieved from http://www.tips.org.za/files/fessehaie_the_regional_value_chain_for_mining_capital_equipment.pdf.
GFMS Thomson Reuters. (2017). GFMS gold survey 2017. London, UK: Thomson Reuters.
LBMA. (2019). The good delivery rules for gold and silver bars. The London Bullion Market Association. Retrieved from http://www.lbma.org.uk/assets/market/gdl/GD_Rules_16_July_FINAL_20190722.pdf.
Searce, & Krijger, M. (2011). Gold jewellery in Italy. CBI Ministry of Foreign Affairs of the Netherlands. Retrieved from http://expertdirectory.s-ge.com/data/files/2011%20Gold%20jewellery%20in%20Italy.pdf.
Trenti, S., & Banca Intesa SPA. (2007). Italy’s gold districts: Is this the end of the crisis? The London Bullion Market Association. Retrieved from http://www.lbma.org.uk/assets/blog/alchemist_articles/Alch46Trenti.pdf.
United Nations Industrial Development Organization & United Nations Conference on Trade and Development. (2011). Economic development in Africa report 2011: Fostering industrial development in Africa in the new global environment. Retrieved from https://unctad.org/en/Docs/aldcafrica2011_en.pdf.
World Gold Council. (2016). India’s gold market: Evolution and innovation. Mumbai, India: World Gold Council.
World Gold Council. (2017). India’s gold market: Evolution and innovation. London: World Gold Council. Retrieved from https://www.gold.org/download/file/8241/india_gold_market_innovation_and_evolution.pdf.
World Trade Organization. (2015). India trade policy review, WT/TPR/S/313. Retrieved from https://www.wto.org/english/tratop_e/tpr_e/s313_e.pdf.
Websites
Bhattacharya, R. (2018, June 26). Are India’s export subsidies overstaying their welcome? The Wire. Retrieved from https://thewire.in/trade/are-indias-export-subsidies-overstaying-their-welcome.
Dauriz, L., Nathalie Remy, N., & Tochtermann, T. (2014). A multifaceted future: The jewelry industry in 2020. McKinsey & Company. Retrieved from https://www.mckinsey.com/industries/retail/our-insights/a-multifaceted-future-the-jewelry-industry-in-2020.
Pilloni, A. (2013, October 18). Italy’s gold sector: Decline & fall. Bullion Vault, Gold News. Retrieved from https://www.bullionvault.com/gold-news/italy-gold-101820136.
Rio Tinto. (n.d.). Mine of the future. Retrieved from http://www.riotinto.com/australia/pilbara/mine-of-the-future-9603.aspx.
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2021 The Author(s), under exclusive license to Springer Nature Switzerland AG
About this chapter
Cite this chapter
Grynberg, R., Singogo, F.K. (2021). Gold and African Industrialisation: Between an Economic Rock and a Political Hard Place. In: African Gold. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-65995-0_12
Download citation
DOI: https://doi.org/10.1007/978-3-030-65995-0_12
Published:
Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-030-65994-3
Online ISBN: 978-3-030-65995-0
eBook Packages: Economics and FinanceEconomics and Finance (R0)