According to a draft agreement seen by international news agency Reuters, South Africa’s mining industry, unions and the government have committed to a broad plan to stem job losses, including boosting platinum by promoting the metal as a central bank reserve asset.
The Money Show’s Bruce Whitfield interviewed Mamokgheti Molopyane, Mining and Labour Analyst at Voodoo Consulting.
Scroll down to listen to the audio.
Finally there’s a converging of ideas on how to move forward! It is, however, still not clear how they will implement their proposals.— Mamokgheti Molopyane
Electricity supply is one of the largest problems in mining.— Mamokgheti Molopyane
Mining is a dying sector; we must face that reality. More companies will fail.— Mamokgheti Molopyane
Job cuts in mining are inevitable. It’s only a matter of how many and when.— Mamokgheti Molopyane
This article first appeared on 702 : Industry/unions/Govt agree on plan to save jobs. Platinum to be reserve asset