Job losses in mining, big threat to economy: Zuma :Tuesday 11 August 2015. President Jacob Zuma addressing members of the media during his report on SONA 2015 update.
(SABC) President Jacob Zuma says looming job losses in the mining and the steel sectors are a big threat to the country's economy. The President was addressing the media at the Union Buildings in Pretoria on Tuesday. The ailing economy as a result of high wage demands, the fragile labour market and weak demand for mineral resources has forced mining houses and steel companies to embark on mass retrenchments. Zuma has urged stakeholders to find alternative ways to save jobs. “The threat of job losses in the mining and steel sectors is of serious concern to government as it would have a negative impact on many families, communities and the economy. Zuma says he is also meeting with all ministries mentioned in the Farlam Commission recommendations.
Marikana report President Zuma says the implementation of the Marikana report is a top priority. ArcelorMittal SA raises steel prices:Tuesday 8 November 2011. ArcelorMittal South Africa.
(REUTERS) ArcelorMittal South Africa, a unit of the world's top steelmaker, says that it has increased steel prices effective November 1. The steelmaker says that prices for flat steel products would increase by between 3-6%, depending on the product, while prices for long steel products would be raised by between 4-8%. The company said last week that higher costs and lower steel prices hit earnings in the three months to end September. It said a summer dip in demand was deepening into a second-half slump, with even lower steel shipments and prices in the fourth quarter than the third leading it to scrap some investment plans. ArcelorMittal, which makes between 6-7% of global steel, said on Thursday customers were increasingly cautious due to economic uncertainties such as the risk of recession in developed markets and policy tightening in China leading to slower growth.
Numsa rejects employers’ wage settlement demand:Friday 11 July 2014. Numsa has condemned violence during the strike.
(SABC) National Union of Metalworkers of South Africa (Numsa) Deputy General Secretary Karl Cloete has rejected the employers' demand of an assurance that the union would not strike on any issue during the term of a wage settlement. Numsa has been consulting its striking members in the steel and engineering sector on the latest multi-term wage offer from employers affiliated to the Steel and Engineering Industries Federation. The union has held a National Executive Committee meeting in Johannesburg to discuss the wage offer that includes a 10% first year increment. Cloete says members are concerned about the violence that has accompanied the strike. “Numsa and its leadership at national, regional and local level condemns violence of any kind.
ArcelorMittal shuts down, cuts output:Thursday 1 November 2012. ArcelorMittal group was undergoing a similar review and any decision to shut additional capacity would be announced in the new year.
(REUTERS) ArcelorMittal South Africa, a unit of the world's top steelmaker, said it had shut indefinitely three electric arc furnaces at its Vanderbijlpark plant in South Africa, reducing annual output by around 1 million tonnes. The steelmaker, Africa's biggest, was given until October 16 to deal with emissions from the furnaces and decided it was cheaper to shut the units rather than complete a project on a dust-extraction system that would capture the emissions. Current weak demand for steel also justified the decision to shut the units, Chief Executive Nonkululeko Nyembezi-Heita said at the company's results presentation. "If that proves to be insufficient we would be looking for further capacity shuts," she said. SA steel, platinum industries on verge of collapse: Analyst:Saturday 25 July 2015. Labour analyst Terry Bell says Lonmin’s plan to retrench mineworkers is a cause for concern.
(SABC) Labour expert Terry Bell has warned that South Africa's steel and platinum industries are on the verge of collapse. His warning comes after one of the world's latest platinum producers, Lonmin, in Rustenburg in the North West announced its plans to retrench 6000 employees. Bell says role players should urgently put their heads together to seek an alternative to the planned retrenchments. "We can look at what happened with the steel production sector where 4 000 jobs were lost many years ago, this is the way we are going and this requires now an urgent thinking and for all role players to get together. " Bell also says government, unions and all role players in business need to find solutions in addressing job losses. Click below for related articles: Related articles: Mining, by sabcnewsonline.