HEAT GOLD MINES FEEL THE
As the gold price continues to drop, companies will likely be forced to slow the production process and fire more workers
The same statistics also shed light on the ultimate effect of the historic five-month-long strike in the platinum sector this year.
The strike, which paralysed much of South Africa’s platinum industry, led to a R4 billion drop in wages paid in the sector in the first half of the year.
Last year, the sector’s wages and benefits from January to June totalled about R18 billion. This year it was R14 billion.
A large number of contract workers were let go between January and June. The sector’s large outsourced workforce shrunk by 7 315 during the strike, according to the department’s statistics.