As the gold price con­tin­ues to drop, com­pa­nies will likely be forced to slow the pro­duc­tion process and fire more work­ers

CityPress - - Business -


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.

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