The Minerals Council has reported that 80% of South Africa's gold mines are no longer profitable.
This poses a threat to jobs in the mining sector.
Two big mining firms Impala platinum and Lonmin announced that they will shed over 25 000 jobs combined in the near future.
Director-General in the Department of Mineral Resources Advocate Thabo Mokoena says the Minister of Mineral Resources Gwede Mantashe is engaging with mining companies and the Minerals Council on the matter.
The minister has advised Implats, in particular, to go back and look at a model that will be appropriate so that we can be able to save jobs.— Advocate Thabo Mokoena, Director- General in the Department of Mineral Resources
We are working together with the mines and we have also advised the mining companies that whenever there is this kind of challenge they are faced with, they must always remember to raise it with us so we can see how to assist.— Advocate Thabo Mokoena, Director- General in the Department of Mineral Resources
Advocate Mokoena says by projections, the prices of platinum would improve in the next two years.
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There will be a demand in the next coming years because right now there is no demand.— Advocate Thabo Mokoena, Director- General in the Department of Mineral Resources
Listen to what guarantee they have that things will improve...