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Economic history of South Africa

Prior to the arrival of European settlers in the fifteenth century the economy of what was to become South Africa was dominated by subsistence farming and hunting. In the north, central and east of the country tribes of Bantu peoples occupied land on a communal basis under tribal chiefdoms. It was an overwhelmingly pastoral economy and wealth was measured in the number of cattle men (not women) held. Population growth had created a land pressure that had seen the tribes move steadily from the origins in central east Africa.



Processed GOLD (AU)


                                                                                                                UNPROCESSED GOLD(AU)
A BRIEF HISTORY OF GOLD IN SOUTH AFRICA
European prospectors found the first alluvial gold deposits at Eersteling (Limpopo Province) between 1840 and 1870, but the first major gold rush in South Africa, however, started on 5 February 1873 at MacMac, a mere 5 km from Pilgrims Rest as the crow flies. The big strike however, was when Alec "Wheelbarrow" Patterson discovered gold in the Pilgrim's Creek in 1873. He could not keep his find secret and soon another prospector, William Trafford, found gold in the Pilgrim's Creek. Legend has it that he shouted with joy "Now at last, a pilgrim is at rest!"

He registered his claim at the gold commissioner's office, MacMac, resulting in a major gold rush on 22 September 1873, when Pilgrim's Rest was officially proclaimed a gold field.

Not even a year later, 1500 diggers worked 4000 claims around the streams of Pilgrim's Creek.  By 1876 most of the tents were replaced by permanent structures, and many made their "gold" from the various businesses supplying the diggers with necessary provisions. Gold was also discovered in the De Kaap Valley in January 1874 and some diggers moved from Pilgrim's Rest to this area to try their luck. Small deposits were found at Kaapsehoop and Berlin but it was only with the discovery of alluvial and reef gold by August Robert, alias French Bob in 1882, that the Barberton Goldfields were established. Gold was mined and melted in ancient times in Southern Africa to a limited extent. Artifacts made of gold were excavated from sites such as Mapungubwe (now a world heritage site in the Limpopo Province), Klipwal (near Piet Retief) and Thulamala in the northern part of the Kruger National Park.

Gold was smelted by means of a furnace, which was probably similar to the iron and copper smelting furnaces excavated elsewhere in southern Africa, and was utilised for personal adornment as well as a means of barter for glass beads from Egypt, ceramics from China and cloth from Phoenicia. By 1898 the gold production of the Witwatersrand exceeded that of the entire United States of America. Gold is still to this day, the basis of the South African economy. George Harrison discovered by chance, the Great Rand Reef (Johannesburg) in 1886.  The first diggers moved in, and by September of that year, 3000 prospectors were working the area. In 1893, Peter Marais discovered more gold deposits on the Witwatersrand. The geologists Harry and Fred Struben were convinced of rich deposits, and erected a five-stamp battery on top of the area which became the largest gold-bearing reef in the world!