Impala Platinum says exploring all options to prevent job cuts
Earlier this week, Implats announced that 2,500 jobs may be at risk after the mine failed to return to profitability, again.
JOHANNESBURG - Mining company Impala Platinum says it is exploring all channels in a bid prevent job cuts at the mine.
Earlier this week, the group announced that 2,500 jobs may be at risk after the mine failed to return to profitability for the fourth year in a row.
Implats has cited low metal prices and increasing production costs as reasons for the cuts.
Spokesperson Johan Theron said: "The length of time that metal prices have remained low, has now caught up with all those efforts but it doesn’t mean we’re going to stop paying attention to all those other mechanisms. It just means that we now more robustly have to look at labour costs and how that can be optimized as well."
South Africa’s mining industry has shed close to 70,000 jobs since 2012 in the face of volatile prices, soaring costs, labour and social unrest and policy uncertainty.