"Cosatu presses government and mining industry to avert mass job losses, citing economic challenges and industry decline."yesterday launched last-ditch efforts to engage government and the industry over the pending job cuts.
Citing a decline in profits, underperformance and lower commodity prices, Minerals Council South Africa chief economist Hugo Pienaar said the mining sector crisis illustrated the “cyclical nature of mining sector profitability”. “The companies first aim to cut costs through reductions in capital expenditure, as well as other cost-saving exercises.