SA’s platinum miner Lonmin slashes fewer jobs than anticipated


South African platinum producer, Lonmin, which has cut much less jobs than anticipated despite weak platinum prices only retrenched 75 employees from the over 6,000 who were meant to be axed, while 5,108 others accepted voluntary severance packages.

On top of the staff reduction, another 1,297 employees have been reskilled and moved to other mines within the company.

The Association of Mineworkers and Construction Union, AMCU, has expressed its approval of the restructuring process, but said it would have been more content knowing no jobs were lost instead.

South Africa’s mining firms have cut 47,000 jobs between 2012 and early last year, as the industry grappled with soaring costs and a steady fall in commodity prices.

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