• Growth and Structural Change

: Structural change is a term that describes a significant change in the way a region, economy, or market works, usually as a result of major economic developments.

South Africa has made no strides in changing the structure of its economy but has regressed in some ways. Despite possessing a surplus of products and natural resources and being listed as one of Africa's largest industrialised countries in terms of income and GDP (Bakari, 2017), South Africa is classified as a developed country with high unemployment and poverty rates.

• Distribution of income

: Development requires an income structure that is reasonably even, resulting in improved wages for everyone. Income distribution is critical for progress because it impacts societal stability, decides the level of poverty for any given total per capita income, and the poverty-reducing effects of prosperity.

South Africa's income gap has widened. According to the most recent World Inequality Database estimates, the top 1% of South African earners take home nearly 20% of all income in the region, while the top 10% take home 65%. The remaining 90% of South African earners receive just 35% of overall wages.

• Modernisation

: Economic development through industrial revolution can result in economic growth, enabling poorer countries to catch up to industrial countries.

The road to modernisation could be difficult for South Africa's mining industry, but it is the only option in a globalised world. Modernisation is a strategic goal for the Minerals Council since it is critical for the mining industry's development and potential to effectively contribute to society.

• Improvement of education and health

: Education and health have the ability to play a part in a country's growth as a gateway to human resource accumulation and the development process. As the Covi-19 pandemic demonstrated, our country's health system, like its education system, needs improvement.