Sibanye Gold says South Africa government cannot stop job losses

by Reuters 0

The chief executive of Sibanye Gold said on Thursday that South Africa’s government could not legally stop job losses or hold the industry “to ransom” if companies were losing money.

“I’m sorry for being so blunt but we are tired of political comments,” Neal Froneman said at a presentation of the company’s interim results.

South Africa’s mining ministry is holding talks with companies and unions over planned job cuts as President Jacob Zuma’s government frets over high unemployment ahead of key local elections next year.