[miningmx.com] – MINING companies in Zimbabwe could not afford wage increases in 2016 and some had agreed with employees to cut salaries in order to stay afloat, said Reuters citing a survey commissioned by the country’s Chamber of Mines.
The survey, which represents major mining firms, showed that mines expect the industry to contract for the third consecutive year after 70% of the industry recorded losses in 2015, said Reuters.
Mining is the biggest export earner in the southern African nation, but its contribution to earnings has declined from a high of 57% in 2012 to 50% last year after the global prices of its major minerals, gold and platinum, fell.
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