Ma­jor in­no­va­tion needed in the min­ing sec­tor

Finweek English Edition - - IN THE NEWS -

The mech­a­ni­sa­tion of mines has be­come a buzz­word in the SA min­ing sec­tor, con­strued as some­thing of a panacea for in­vestors es­pe­cially in the plat­inum sec­tor where es­ti­mates sug­gest that two-thirds of pro­duc­tion is still cash neg­a­tive. For unions, how­ever, mech­a­ni­sa­tion im­plies loom­ing job cuts.

Ac­cord­ing to Grif­fith, mech­a­ni­sa­tion is nei­ther one of th­ese things en­tirely, although he ac­knowl­edges that there is a long-stand­ing de­bate on the ef­fect of mech­a­ni­sa­tion and the im­pact on jobs.

“How­ever, it is com­mon cause that bet­ter pro­duc­tiv­ity is bet­ter for the econ­omy,” said Grif­fith in a pre­sen­ta­tion at the Min­ing Ind­aba con­fer­ence ear­lier this month. “Jobs don’t get lost – they get cre­ated in new ar­eas,” he said, adding that mech­a­ni­sa­tion was “a so­cial and eco­nomic im­per­a­tive”.

Tell that to Lon­min share­hold­ers who wit­nessed the

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