RESOURCES
Job losses slow down in mining
The improvement comes against the backdrop of moderate growth in the sector driven by platinum group metals
Job losses in mining have slowed down compared with two years ago, according to the Chamber of Mines. The improvement comes against the backdrop of moderate growth in the sector driven by platinum group metals, which are back in demand because China’s economic prospects are looking up. The sustained rise of commodity prices has also helped mining. Figures released by Statistics SA last week show that mining production increased 4.6% year on year in February 2017, after recording a 1.4% year-on-year increase in January. Chamber of Mines chief economist Henk Langenhoven told Business Day that nearly 40,000 jobs were lost in mining from the beginning of 2015 to the end of 2016. "However, the rate of job losses has slowed down. "Between end-2015 and end-2016, job losses amounted to only 4,162. During 2016, this slowed down even further to 2,651 but, disappointingly, increased to 2,902 between the last two quarters of 2016." Job losses between 2015 and 2016 amounted to 4.5% of the sector...
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