A mineworker drills at Lonmin's Saffy platinum mine in Marikana. The mining sector could lost close to 100 000 due to soaring electricity costs.The country's gold and platinum mines will shed around 90,000 jobs in the next three years as above-inflation electricity price increases by power utility Eskom add to already soaring operating costs, an industry body said on Monday.
“In total, as many as 90,222 jobs would be at risk solely as a result of the MYPD4 tariff increases granted by Eskom,” the Minerals Council of South Africa said in a presentation. Job cuts are politically sensitive in Africa’s most industrialised economy where a quarter of the labour force is unemployed, while power outages and steep price increases by Eskom are set to hurt an already fragile growth outlook.
Source: News Formal (newsformal.com)
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