Register now for Fin24 Dashboard and get access to portfolios, watchlists, financial comparison tools, and a whole lot more to help you achieve your financial goals.

Data provided by McGregor BFA
All data is delayed
Loading...
Where am I? Home
 
Prices are delayed by 15min.
Join the Fin24.com conversation about JSE-listed stock by using every time you tweet.

Mining job cuts over 12 000

Dec 03 2008 16:55

Related Articles

Mine task team looks at crisis

Lonmin: 1 500 jobs could go

Job cuts sweep through SA

Lonmin to lay off 4 000 workers

Thousands to lose jobs

Mining firms hard-hit by strike

 

Top Stories

Cell C move sparks price war

May 27 2012 11:21

There's a price war raging between South Africa's cellphone networks after Cell C lowered the rates of its prepaid calls by more than 34%.

Tupperware agents incensed by fakes

May 27 2012 11:49

The country's 200 000-odd Tupperware agents are angry about the counterfeit products being sold as the real McCoy.

Another golf estate victim

May 27 2012 13:09

The oversupply of golf estates has claimed another victim.

 
Share Share line Print

Johannesburg - Another 1 000 permanent and contractual jobs could be lost in the mining industry, bringing total potential job losses to more than 12 000, trade union Solidarity said on Wednesday.

The trade union said it has received two more retrenchment notices from mines, which could jointly result in the retrenchment of nearly 1 000 employees.

About 400 employees of Consolidated Murchison Mine (Consmurch) outside Phalaborwa and more than 580 contractors employed by Redpath Mining at International Ferro Metals (IFM) Lesedi mine outside Rustenburg could possibly lose their jobs in the retrenchment process.

In the notice received by Solidarity, Consmurch says the worldwide economic crisis and the drop in the demand for antimony were the primary reasons for the planned retrenchments.

The only producer of antimony in South Africa, Consmurch produces about 8% of the world's antimony. The company also mines gold.

Consmurch indicated that the retrenchments would be from among its support personnel in particular.

Solidarity has scheduled a meeting with the company on Tuesday next week to discuss possible alternatives to retrenchment.

In the meantime, IFM handed notice to the contractor Redpath on Tuesday in which the ferro-metals producer indicated that it would be terminating the services of the contractor due to operational reasons.

The termination of the contract would mean that 582 contract employees would lose their jobs in the process, said Solidarity.

Following retrenchments announced by platinum and gold producers in the past two weeks, Solidarity said more than 12 000 employees could now lose their work in the mining industry alone.

Solidarity spokesperson Jaco Kleynhans said the trade union was increasingly concerned about the crisis in the South African mining industry owing to the weakening of the worldwide economy.

The trade union is one of the members of a task team set up by the South African government and the mining industry to investigate the influence of current global economic conditions on South African mining.

This task team will, among other things, draw up a plan to provide alternatives for the retrenchment of the 12 000 mineworkers, Solidarity said.

"The world's economy currently has a massive influence on South Africa's mining industry and while there is no improvement in the economies of countries to which South Africa exports raw materials, local circumstances will also not improve," said Kleynhans.

- I-Net Bridge

 
 
Comment on this story
0 comments
Comments have been closed for this article.
Facebook's intrinsic value
May 23 2012 11:32

When it comes to judging a company’s worth, value investors like Warren Buffett look at intrinsic value. By that measure, Facebook’s shares are worth less than $10. A Reuters analyst breaks down the math. (Reuters)

Perfin

I arranged two workshops in Cape Town at the Cape Chamber of Commerce offices as well as two computer based workshops, one on Google Adwords and another on Joomla Administrator at the training centre in Somerset West. Emarketing Workshops - http://emarketingworkshops.co.za/next-workshops 1. Interne... Read their blog...

Recently updated
Podcasts
The Sishen saga

Legal expert Peter Leon on the increasingly complex legal wrangle over the Sishen Iron Ore mine. Time: 8:17 Listen Here...

Before you list

Is the clarion call of the JSE calling? Listen to Fin24’s expert panel discussion before you list your small business. Time: 17:29

Compare and Buy

Compare and apply for hundreds of financial products from many suppliers.

Credit cards Medical aid Current accounts Think Money

Money Clinic

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

Loading...