Consolidation in Western Australian gold sector to continue amid record prices
The small and fragmented WA gold sector remains ripe for consolidation, even after several deals already so far this year.
A deal struck between South Africa’s government, companies and unions has prevented the immediate loss of 16,000 jobs in an industry hurt by a global commodities rout, an official said on Wednesday.
Mining firms, such as Anglo American and Glencore, operating in Africa’s most advanced economy are closing shafts and retrenching tens of thousands of workers as the price of platinum, coal and iron ore plunges.
The biggest mining sector union this week estimated that 36,000 jobs could be lost in the next three months. The minister for mines said in January that 32,000 jobs would be lost.
