Cape Town — Restructuring in South Africa’s platinum group metals (PGM) industry could affect 4,000 to 7,000 jobs, South Africa’s Minerals Council said on Monday.
South African PGM miners are increasingly discussing the need to restructure unprofitable production following a decline in prices and high input costs, the council said in a statement at the start of the Investing in African Mining Indaba conference in Cape Town.
Electricity and labour costs account for most of PGM miners’ total costs, the Minerals Council said.
“In light of this, various prominent PGM miners are restructuring their operations potentially impacting between 4,000 to 7,000 jobs.”
*Olivia Kumwenda-Mtambo; Nellie Peyton; editing: Edmund Klamann & Tom Hogue – Reuters
