South Africa's gold and platinum mines will experience significant job cuts in the next three years following Eskom's tariff increase.
File: Labour unions have threatened strikes over the job cuts at mining firms as well as planned reductions at numerous state-owned companies.
"In total, as many as 90,222 jobs would be at risk solely as a result of the MYPD4 tariff increases granted by Eskom," the Minerals Council of South Africa said in a presentation.Job cuts are politically sensitive in Africa's most industrialised economy where a quarter of the labour force is unemployed, while power outages and steep price increases by Eskom are set to hurt an already fragile growth outlook.
Labour unions have threatened strikes over the job cuts at mining firms as well as planned reductions at numerous state-owned companies.by 9,41% in 2019; 8,10% in 2020 and 5,2% in 2021, far less than Eskom's request for increases above 15% in each of the three years.
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