Diamond and gold discoveries played an imperative part in the development of the early South African history. The first recorded discovery of gold was to have been found on the banks of Witwatersrand by Jan Gerrit Bantjes in June 1886; a defining moment in South African history.
Gold, more so than diamonds; revolutionized South Africa from an agricultural society to become the largest gold-producer in the world. Later, more gold mines were discovered further south and east of South Africa, extending for miles underground resulting in ‘an endless treasure of gold’. Gold mining very quickly became the largest and most important part of the South African economy.</p>
Throughout much of the early 20th century, the gold mining industry continued to grow significantly contributing to an overall economic tripling effect. In particular, revenue from gold exports provided sufficient capital, continuing to be a major contributor to the South African economy today.