Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
South African trade union Solidarity said today that Lonmin would only retrench workers as a last resort.
General secretary Gideon du Plessis said, “Lonmin made it clear from the outset that it is not their intention to go through a wholesale job reduction process, but that they would review their operating model to optimize business processes and leverage synergies in the organization, that may result in job losses as a last resort.”
Du Plessis noted that the involved parties are all committed to finding alternatives to avoid retrenchment or to at least substantially minimize the number of workers that would be impacted.
Source (English): Independent Online via BrightWire News.
