Today's Labour News

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miner thumb medium90 104BusinessLive reports that job losses in SA’s mining sector continue unabated, with AngloGold Ashanti set to cut 2,000 jobs to shrink its support structure in SA.  

SA’s gold and platinum mines are shedding thousands of jobs because of the age, depth and costs of running them, combined with relatively low prices for the metals.  From the 380,000 people working on SA’s gold mines in 1995, the figure has dropped below 116,000.  Employment on platinum mines has dropped to less than 170,000 from a peak of 200,000 a decade ago.  Pan African Resources said recently it was shutting its Evander gold mine and cutting 1,700 jobs.  Lonmin has started a three-year process to shed 12,600 jobs.  Sibanye-Stillwater stopped its four unprofitable Cooke gold shafts, shedding more than 3,000 jobs.  

Wednesday’s news from AngloGold, came shortly after Mineral Resources Minister Gwede Mantashe said he would summon mining companies to explain their decisions to close mines and cut jobs, and forcing his hand on implementing a use-it-or-lose-it principle.  “We will invite people who are culprits of this practice for discussions because reluctantly we are being pushed into invoking the principle of use-it-or-lose it,” Mantashe said.  He added that companies with marginal shafts should consider selling them to smaller companies with lower overheads, which could perhaps mine them profitably for longer.  

Meantime, not only will AngloGold be cutting jobs, but it will be selling, donating or demolishing surface assets such as hospitals, workshops, laboratories, warehouses and buildings it no longer needs

  • Read this report by Allan Seccombe in full at BusinessLive


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