The world’s largest platinum miner says job cuts are in store to reverse losses as pressure mounts at the mines which can least afford it.
Amcu members demanding a R12 500 minimum wage, have downed tools at Amplats, Implats and Lonmin mine in the North West.
As the rand has weakened, imports of wheat have become more expensive and prices in the US have risen.
Anglo American and Kumba have agreed to bankroll an exploratory project in Gabon and have an option to move to full-ownership.
Amcu has received permission to strike at Lonmin over demands for a minimum basic wage of R12 500 per month for its members.
Amcu, the biggest union at Amplats, will ask members to decide on a possible strike in January after a two-week break.
SA’s second-largest food producer by value, Pioneer Foods, is calling it quits after a tough year in the broiler industry.
Margins of the country’s largest food and household goods company have been under pressure as consumers have spent less over the past financial year.
The biggest union in the platinum sector can now strike with a 48-hour notice after rejecting a pay increase offer from the platinum giant.
Cutting capital expenses and funds raised from a rights issue have put the Lonmin back on a sound footing.