Today's Labour News

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implatsheadgear smlBusinessLive reports that high input costs and the fluctuating rand are weighing on mining and the Association of Mineworkers and Construction Union (Amcu) has warned of more retrenchments across the industry because of the government’s lack of focus.  

With the Chamber of Mines and Mineral Resources Minister Mosebenzi Zwane at loggerheads over the controversial Mining Charter, uncertainty, coupled with volatile commodity prices and the exchange rate, could have a devastating impact.  Amcu president Joseph Mathunjwa has blamed the industry’s challenges on the country’s leadership which he said was "caught up in narrow, selfish interests of jostling for power", while diverting attention from real issues such as the spiralling unemployment challenge.  He said that while external factors played a role in the mining industry’s decline; it was in the government’s interest to curb the job losses.  He told reporters at a briefing on Thursday that the worst was yet to come and added:  "We’ll not be surprised when we see Sibanye Platinum, Lonmin, Impala and other mining houses follow suit because it is the basis of capitalist thinking and the root of exploitation."

  • Read this report by Sunita Menon and Theto Mahlakoana in full at BusinessLive

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