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Interesting Indices What Is Being Traded In 2021

13 March 2021 by Alan

MyPR: Interesting Indices What Is Being Traded In 2021: Johannesburg, 11 March 2021: It’s trading unexpected. Fred Razak, Chief Trading …

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The Geological Miracle of the Witwatersrand

The very existence of Johannesburg is a geological fluke. Unlike most major global cities, Johannesburg was not built near a river, a coast, or a natural harbor. It sits 1,753 meters above sea level on a rocky ridge called the Witwatersrand (Ridge of White Waters). This ridge is the edge of the world’s largest known gold deposit, formed over 2 billion years ago when an ancient inland sea began to evaporate, leaving behind layers of gold-bearing conglomerate.

When George Harrison, an Australian prospector, stumbled upon an outcrop of gold on the farm Langlaagte in 1886, he triggered a “gold rush” that changed the course of African history. Within a decade, a dusty collection of tents and wagons transformed into a permanent city of brick and mortar. The “Main Reef” proved so vast that it eventually produced nearly 40% of all the gold ever mined in human history. This geological wealth dictated the city’s layout: the mining belt runs east-to-west across the city’s center, creating a physical divide between the wealthy northern suburbs and the industrial, working-class south. Today, while most mines within the city limits have closed due to the extreme depth and cost of extraction (some mines reached over 3.9 kilometers underground), the physical legacy remains in the form of “mine dumps”—massive yellow-white hills of crushed rock and sand that define the Joburg skyline.

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