Mining Weekly

President Jacob Zuma has created a ladder of initiatives to restore order, stability and certainty in the labour-ravaged and market-whipped mining economy. The Chamber of Mines last week welcomed the President’s facilitation of meaningful interactions between government, labour and mining companies and the mobiisation of Deputy President Kgalema Motlanthe, Finance Minister Pravin Gordhan, Minerals Minister Susan Shabangu and Labour Minister Mildred Oliphant to support an industry he described as “the cornerstone of the South African economy”. Chamber president Mark Cutifani expressed confidence that the intervention would help to build the investment and guide the ongoing labour processes ahead of this month’s crucial wage talks, which take place at a time when 60% of the country’s platinum mines and half of its gold mines are already classified as lossmaking.