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OPPORTUNITY LOSS

8th March 2013

By: Darlene Creamer

  

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Illegal strike action and violence cost South Africa R15.3-billion in 2012, the National Treasury said in its 2013 Budget. Mining value-added output fell by 4.3% and delays in the resumption of full operations, shaft closures and agitated labour relations could constrain output further, the National Treasury has warned. South Africa deserves more from its workforce, which persists as the country’s weakest economic link. Expenditure in the South African economy exceeded the value of production by R190-billion last year, the consequence of the disruption of mining by workers and the opportunity loss from curtailed mineral and metal exportation.

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