The world's second-largest ferrochrome producer could shed nearly 2,500 jobs. Weak chrome prices and Eskom blamedSamancor Chrome, one of the world’s largest sources of the stainless steel ingredient, warned its unions on Monday that it could cut up to 2,488 jobs because of a global downturn in the chrome price and a rise in Eskom’s electricity prices.
Business singles Eskom out as the biggest crisis facing SA’s economy, and it has, through Business Unity SA, the council and other bodies, called for urgent action from the government to fix the power utility, one of the state businesses at the forefront of corruption and mismanagement. “This drop in the chrome-ore prices, linked with the continuous increase of cost of production and low productivity, makes the situation unsustainable,” said the privately held company.
Tharisa, a chrome-ore and platinum-group metals miner, warned in November that the fall in chrome prices was leading to small-scale chrome producers closing and others curtailing production.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Apple partner Pegatron sets up shop in Vietnam“Vietnam’s enhanced vocational training has helped boost the quality of its pool of workers to close to China’s level and its government has been keen to clear hurdles including bureaucracy for foreign companies to invest in the country.”
Source: BDliveSA - 🏆 12. / 63 Read more »
Gift of the Givers believes SA man abducted in Burkina Faso died a hostageHumanitarian group Gift of the Givers said on Wednesday it had been ‘reliably informed’ that SA mine worker, Christo Bothma, had died
Source: TimesLIVE - 🏆 28. / 59 Read more »
TFG a rare success story of SA companies Down UnderThe fashion retailer has excelled Down Under, with an 11% revenue increase in Australia, attributed largely to using local, experienced managers
Source: BDliveSA - 🏆 12. / 63 Read more »
IMF warns on SA’s crippling public finances and structural constraintsThe fund flagged structural constraints and deteriorating public finances, that 'are holding back business confidence and private investment' in its World Economic Outlook update for 2020.
Source: BDliveSA - 🏆 12. / 63 Read more »
POLL | Herman Mashaba to launch new political party in June - a progressive move or waste of time?“What I can confirm right now is that a new political formation will be announced by June, latest.” Waste of time.i racist this is just hw we continue to be divided as a black nation COPE II
Source: TimesLIVE - 🏆 28. / 59 Read more »
Source: IOL - 🏆 46. / 51 Read more »