BUSINESS MAVERICK: Joint operations centre set up to quash platinum belt unrest

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 84%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

BUSINESS MAVERICK: Joint operations centre set up to quash platinum belt unrest By Ed Stoddard

The eastern limb of South Africa’s platinum belt, which curves up from Lydenburg in Mpumalanga before cutting an arc across a swathe of Limpopo, is in flames. It may sit upon some of the planet’s richest platinum group metals and chrome deposits, but the wealth that has been generated from beneath the soil has clearly not been spread widely enough.

The target of the discontent varies: service delivery protests against corrupt and incompetent local governments disrupt mining operations, while tribal authorities have been the subject of community wrath over suspicions about the dispersal of revenue payments. Demands for jobs are another trigger in a region that mining sources say has an unemployment rate of close to 80%, more than double the appalling national average.

In 2017, Impala Platinum’s Marula operation in the region was on the verge of closure because of community protests sparked by a chrome project set up with a local tribal authority that went sour amid perceptions that the revenue flows were not transparent. The terms of the project were then renegotiated to make it more transparent. But flare-ups still occur around the mine and it was shut for a week in March by community protests.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Govt, mining industry to build academic hospital in N West - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Government and the mining industry have announced a plan to build an academic hospital in the Rustenburg Platinum belt. And capacitate hospital with what? Long overdue
Source: SABC News Online - 🏆 32. / 51 Read more »

Investec targets underperformers as earnings fallJoint CEO Titi targets more cost-savings with the closure of smaller businesses to stem decline
Source: BDliveSA - 🏆 12. / 63 Read more »

Investec targets underperformers as earnings fallJoint CEO Titi targets more cost-savings with the closure of smaller businesses to stem decline
Source: BDliveSA - 🏆 12. / 63 Read more »

Investec targets underperformers as earnings fallJoint CEO Titi targets more cost-savings with the closure of smaller businesses to stem decline
Source: BDliveSA - 🏆 12. / 63 Read more »

Business Maverick: Siemens CEO Seeks to Shake Up Company With Energy SpinoffSiemens AG aims to shed about 75% of its struggling power and gas unit in one of the most radical moves to date by Chief Executive Officer Joe Kaeser to untangle the sprawling conglomerate and try to boost its valuation.
Source: dailymaverick - 🏆 3. / 84 Read more »

BUSINESS MAVERICK: Reserve Bank holds repo rate at 6.5% in close voteThe central bank’s Monetary Policy Committee kept its key lending rate on hold at 6.5% as expected on Thursday 21 November. But the vote was close, with three MPC members voting to hold and two favouring a 25 basis point cut. The arguments in support of either view are finely balanced.
Source: dailymaverick - 🏆 3. / 84 Read more »