Worst is still to come in mining sector, warns union
Amcu expects more retrenchments across the mining sector because of the government’s lack of focus
High input costs and the fluctuating rand are weighing on mining and the Association of Mineworkers and Construction Union (Amcu) has warned of more retrenchments across the sector because of the government’s lack of focus. The mining and manufacturing sectors put in resilient performances in the second quarter, but recorded a decline in June, according to Statistics SA data released on Thursday. "There is no doubt that this decline is largely explained by a combination of the uncertainty regarding commodity prices and the strengthening of the rand exchange rate against the dollar," said Chamber of Mines chief economist Henk Langenhoven. Seasonally adjusted mining production increased 0.6% in the second quarter of 2017 but fell marginally by 0.8% year on year in June while manufacturing production increased 1.5% in the second quarter of 2017, but decreased 2.3% in June. With the Chamber of Mines and Mineral Resources Minister Mosebenzi Zwane at loggerheads over the controversial Min...