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Business Report writes that Royal Bafokeng Platinum (RBPlat) said on Monday that it was currently not planning any retrenchments at its operation, but chief executive Steve Phiri remarked that the miner could not completely rule out the possibility.
The platinum industry is struggling to shrug off high costs coupled with subdued platinum prices. Last week, Impala Platinum (Implats) announced that it would be cutting 13,000 jobs over two years as part of a strategic restructuring process. Implats indicated that it had already laid off more than 2,000 workers last year. Lonmin has also said it would cut 3,000 jobs in the current financial year as part of its plan to release 12,600 workers in the next three years. “We have done two in two years. It might come, you can never say never in this industry,” said Phiri. He went on to remark that the industry could benefit from Mineral Resources Minister Gwede Mantashe, whom he described as fair. He indicated that unlike under his predecessor, Mosebenzi Zwane, sentiment in the industry had improved under Mantashe.
Last month, RBPlat appointed a new chief financial officer and executive director. Hanré Rossouw will take over from 1 October.
- Read more of this Business Report article by Kabelo Khumalo at SA Labour News
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