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BDLive reports that mining production plummeted in February compared with a year ago, and economists have warned that a strike would bring the struggling sector to its knees.
The sector is under pressure from rising input prices, weak demand and low global commodity prices. The outlook for the mining sector for this year remained poor, Nedbank economist Busisiwe Radebe indicated. With platinum mineworkers heading for wage talks in a few months, and given a history of protracted strikes in the sector, there are concerns a strike would add to the sector’s woes and curb economic growth. "A strike would provide yet another damaging blow to the sector, which is still struggling to recover from the crippling industrial action that brought it to a standstill in 2014, and further jeopardise the already highly fragile state of employment in the industry this year," BNP Paribas Securities economist Jeff Schultz stated.
- Read this report by Ntsakisi Maswanganyi in full at BDLive
Get other news reports at the SA Labour News home page