News Leader
WATCH: Some good news out of the embattled mining sector
For the first time in four months, mining production reflected an annual increase of 2.8% in June surprising economists who largely expected tepid growth or a contraction. The rebound comes due to a surge in platinum group metals (PGMs) production, while gold production was down 19%, reflecting the pressure that Gold Fields faces. The miner recently announced that it would cut about 1,500 jobs. This announcement came about a week after Impala Platinum said it would cut 13,000 jobs over the next two years. Cadiz Corporate Solutions mining analyst Peter Major spoke to Business Day TV about the state of the industry.
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