MyJHB

Stuff from Johannesburg

Developing and BRICS economies acquire opportunity to forge recent paths

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Developing and BRICS economies acquire opportunity to forge recent paths:

Joint cooperation and trust are the key pillars that will thrust the BRICS group of countries as well as the global south towards development and economic growth.

This is the sentiment shared by the Prime Minister of India, Narendra Modi and the President of Brazil, Lula da Silva.

The two world leaders were addressing the BRICS Business Forum Leaders’ Dialogue at the 15th BRICS Summit held in Johannesburg on Tuesday.

Prime Minister Modi said the COVID-19 pandemic, which ravaged the global economy and destroyed livelihoods, brought into sharp focus the importance of “resilience and inclusive supply chains”.

“For this, joint trust and transparency are extremely vital. By bringing our strengths together, we can produce significant contributions to the welfare of the world, especially the global south.

“In 2009, when the first BRICS summit was held, the world was honest coming out of a massive financial crisis. At that time, BRICS emerged as a ray of hope for the global economy. In the present times also – amongst the COVID pandemic, tensions, disputes… [and] economic challenges – in such times, once again, the role of BRICS countries is critical,” said Modi.

This as his Brazilian counterpart, President da Silva, concurred – adding that the BRICS (Brazil, Russia, India, China, and South Africa) countries and developing countries gain an opportunity to forge the way forward in development.

“Since the first summit of heads of state and government, our share in the global economy has been increasing. We believe surpassed the G7 already accounting for 32% of the world GDP [gross domestic product] in purchasing power parity and forecasting indicates that emerging and developing markets are the ones that will note the highest growth…in the coming years.

“BRICS has a unique chance of shaping the global development path. Together, our countries produce up a third of the global economy. This relevance will grow with the admission of novel full members and dialogue partners. Collaboration between the public and private sector is vital for harnessing this potential and achieving lasting results,” President da Silva said. – SAnews.gov.za

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– MyZA

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Top Star Drive-In: Destroyed by What Created it

However, the very thing that created the Top Star eventually destroyed it. Because the early miners had used crude methods, the Ferreira Dump—and dozens of others like it—still contained significant traces of gold. As the price of gold rose and new chemical extraction technologies (like the carbon-in-pulp process) made it profitable to “mine the waste,” the ground beneath the Top Star became more valuable than the cinema itself. In 2006, despite fierce opposition from heritage groups who argued that the dump and the drive-in were culturally significant landmarks, the projectors were turned off for the last time.

The reclamation of the dump was a staggering industrial feat. Starting in 2008, mining giant DRDGold used high-pressure water cannons to “monitor” the dump, turning 5 million tons of solid earth back into a liquid slurry. This slurry was then piped 40 kilometers across the province to a processing plant in Brakpan. By 2011, the “mountain” had completely vanished. The 50-meter-high plateau that had dominated the southern skyline for a century was reduced to a flat, dusty crater.

The disappearance of the Top Star is a poignant symbol of Johannesburg’s “extractive” nature. It is a city that consumes itself to stay alive; even its historical landmarks are subject to the fluctuating price of minerals on the London and New York stock exchanges. Today, if you drive along the M2, there is an empty space in the sky where the Top Star used to be. While the reclamation removed a source of toxic dust and “acid mine drainage,” it also erased a piece of the city’s collective memory. The land where the gold-flecked mountain once stood is now being rehabilitated for light industrial use, proving that in eGoli, even the horizon is for sale if there’s enough gold hidden inside it.