Southern Africa mining groups warns of steep job losses - CNBC Africa

Southern Africa mining groups warns of steep job losses

Southern Africa

by Reuters 0

Southern Africa mining groups warns of steep job losses. PHOTO: Wikipedia

Falling commodity prices have led to 70,000 job losses in Southern Africa's mining sector, with more on the horizon, the Mining Industry Association of Southern Africa (MIASA) said on Tuesday.

"MIASA notes with concern, the large scale retrenchments in the region as a consequence of depressed commodity prices on international markets. The mining industry has lost approximately 70,000 jobs across all commodities," it said in a statement.

"A further 50,000 employees face the risk of losing their jobs if something drastic is not done urgently," said MIASA, an association which represents chambers of mines from Botswana, Democratic Republic of Congo, Madagascar, Namibia, South Africa, Tanzania, Zambia and Zimbabwe.   

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