Today's Labour News

newsThis news aggregator site highlights South African labour news from a wide range of internet and print sources. Each posting has a synopsis of the source article, together with a link or reference to the original. Postings cover the range of labour related matters from industrial relations to generalist human resources.

platinumbarFin24 reports that the Minerals Council SA (previously called the Chamber of Mines) has warned that 90,000 jobs in the local platinum mining sector are at risk due to a combination of strikes, weak demand, declining productivity, growth in recycling and the rising cost of electricity.  

The platinum dollar price has been steadily declining since 2011.  Currently 65% of platinum group metals operations in SA were marginal or loss-making at prevailing prices and some 89,964 jobs were at risk at those operations, according to the council’s Roger Baxter.  On Tuesday he said "bold action" was needed by both the state and mining companies to prevent a further erosion of the industry.  The plan that Baxter outlined included a national strategy to drive investment demand for platinum; market development in jewellery, investment and fuel cells; and the adoption of platinum as a reserve asset.  The platinum industry is the largest mining employer in SA, with 168,000 people directly employed in 2018.

  • Read the full original of the report in the above regard at Fin24

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