SA mining sector in trouble, says Patel

[] – SOUTH Africa’s minnig sector was “in trouble” amid job losses and lower commodity prices, said Reuters citing comments made by the country’s economic development minister, Ebrahim Patel.

“The mining industry is in trouble,” Patel said on Talk Radio 702, citing the recent downturn in the metal industry and subdued demand from China.

President Jacob Zuma’s government was due to hold an urgent meeting with mining houses and trade unions later in the day after companies announced they would have to retrench workers to counter high costs, said Reuters.

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