Jobs cuts loom for platinum industry

Johannesburg-South Africa (May 9)  Labour and economic experts say more job cuts can be expected in the platinum mining industry following last year's crippling five months wage strike.

 One of the world's largest platinum producers, Lonmin, based in Rustenburg in the North West, says talks are under way to cut 3500 jobs at its mines.

 The company has been affected by a fall in platinum prices.

 Last month, Anglo American Platinum announced that it intends to cut over 400 jobs.

 Labour and Economic expert Terry Bell says, "We have been expecting a lot of the retrenchment over the coming years. We would probably have to face up to 30 000 and 35 000 retrenchments in the mining sector, as mines went to more mechanisation and as lower commodity prices in order to retrench."

Source: Sabc.za