CHANGE OR SHRINK:
If it does not remove its damaging policy framework, the South African mining industry stands to lose another 100 000 jobs. That is the view of Anglo American CEO Mark Cutifani, who accurately predicted the 100 000 job loss suffered over the last six years. “I'll say it again, absent of change, we’ll lose another 100 000 jobs,” he reiterated to journalists, while warning that South Africa's future did “not bear thinking about” if the country failed to put its 27% unemployed citizens to work. Some, he said, failed to understand South African companies do not have the money to grow mining and only foreign direct investment will do the job.
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