Loading...
See More

Platinum job losses to be curbed

Aug 02 2012 08:39

Related Articles

Zimplats profit tumbles on weak prices

Angloplat fires 725 workers

Lonmin cuts spending plans

Angloplat woes mount

Get braced for platinum pain

SA woes, costs weigh on Anglo

 

Johannesburg - An effort will be made to limit job losses in the platinum mining sector, the government, labour unions and mining houses announced on Wednesday.

The three sectors agreed that all measures to support the industry would be explored before retrenchments, according to a joint statement issued by the department of mineral resources.

They vowed to seek to limit the number of jobs to be lost through this process. They also agreed that other ways of cutting costs without reducing safety and health standards should be found, as well as seeking other ways to improve the demand for platinum.

Another measure included adding value domestically to platinum before exporting it.

South Africa's platinum mining industry has been confronted with falling prices as a result of weakening global demand for the metal.

Last month Anglo American Platinum advised unions it wanted to cut 725 jobs, while Lonmin had slashed capital expenditure plans.

*Follow Fin24 on Facebook, Twitter and Google+.

platinum  |  mining
NEXT ON FIN24X

 

Lastest Articles

Here is how to check your credit score and manage it Read More...
Top tips to save money over the festive period Read More...
These are the top 5 most fuel efficient cars in SA Read More...
What to consider when switching medical aid schemes Read More...
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...