[miningmx.com] – ATTEMPTS by the South African government to have mining firms abandon retrenchment plans would result in “an even more vicious spiral” in an industry plagued by falling prices, said Bloomberg News citing Neal Froneman, CEO of Sibanye Gold.
“We are tired of political comment instead of concrete actions and it is really very sad,’ Froneman said at the firm’s interim results presentation. “The sooner government understands the economic realities of running a business, the sooner they’ll do the right thing,” he added.
South African mines minister, Ngoako Ramatlhodi, is holding a two-day summit with mining bosses to address job losses among other critical industry issues.
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