Today's Labour News

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mosebenzizwaneBusiness Report writes that Mineral Resources Minister Mosebenzi Zwane suffered another setback when he was forced last week to backtrack on his plan to implement a moratorium on the processing of any new applications for prospecting and mining rights.  

Industry players described the retreat on the moratorium as “humiliating”, albeit sensible.  The moratorium proposal was the latest in a series of blows to the mining industry and had dimmed any chance of reviving confidence, according to mining industry players.  Nearly 70,000 jobs have been lost in the industry in the past five years.  Mining companies have recently outlined plans to shed as many as 20,000 jobs, with Sibanye Gold announcing on Thursday that it would retrench 7,400 workers as it planned to restructure its loss-making Beatrix West and Cooke operations.  Zwane said he changed his position after receiving submissions from stakeholders.  “The department will instead opt for other legal instruments at its disposal, in line with the Minerals and MPRDA and other applicable legislation, to achieve its objectives of socio-economic development,” he stated.


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