Yesterday’s South Africa’s GDP data for the second quarter revealed that The mining and quarrying industry decreased by 73.1 per cent as the demand for mineral products fell as global markets entered into strict COVID-19 lock-downs; contributing to decreased production in platinum , gold and other metals. However we are seeing a glimpse of recovery for South African miners as they are posting above average results and production increases. Peter Major, Mining Director at Mergence Corporate Solutions joins CNBC Africa for more.
Joining CNBC Africa for a look at the local markets is Sam Mokorosi, CEO Vunani Corporate Finance.
Following gruelling negotiations in the world’s largest platinum producing country that unearths nearly 70 per cent of world supply. South Africa’s new platinum pay deal was sealed today after last minute postponements. Joseph Mathunjwa leader of Labour Union AMCU says his organisation will continue to keep a beady eye on the Platinum producers. CNBC Africa’s Kopano Gumbi, spoke to AMCU President, Joseph Mathunjwa.
Zimbabwe has awarded a concession to explore for and mine platinum to a company linked to a Nigerian billionaire as the country speeds up investment in a mining sector
With warnings that under the current price and cost forecasts, conventional (platinum) mining will cease to be economically viable in 2024 new solutions need to be found.
Mining boss sees upside for commodities, profit for 2018
Platinum miner Lonmin plans to cut over 1,000 jobs before Christmas.
Platinum producer Lonmin will move its head offices from Johannesburg to its Marikana operations in South Africa in a move that will save it "tens of millions" of rand, Chief Executive Ben Magara said on Monday.
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