SA mining output down 4.8% year-on-year in December – stats agency
JOHANNESBURG – Mining production decreased by 4.8 percent year-on-year in December, with negative contributions coming from gold, iron ore, other metallic minerals, copper and chromium ore, Statistics South Africa said on Thursday.
Total mining production was 1.6 percent lower in 2018, following an increase of 3.9 percent in 2017.
Meanwhile, earlier today Sibanye-Stillwater said that it would begin consultations with relevant stakeholders in terms of Section 189A of the Labour Relations Act regarding the possible restructuring of its gold operations which might affect more than 6,000 workers.
The diversified miner said the restructuring process was as a result of ongoing financial losses experienced at the Beatrix 1 in Free State and Driefontein 2,6,7,8 shafts in Gauteng during the 2018 financial year.
This as Sibanye expects to report an attributable loss of R1 billion for the year ended December 31 2018 when it presents its operational and financial results next week.
Sibanye management has consistently highlighted the operational and financial risks associated with the underperformance of the Driefontein and Beatrix shafts at future forum meetings.
– African News Agency (ANA)
Source: iol.co.za