impact of motor strike on platinum mining industry

impact of motor strike on platinum mining industry

Platinum Minerals Council South Africa

The advent of black economic empowerment and the use it or lose it approach to minerals rights — envisaged in the Mineral and Petroleum Resources Development Act of 2024 — led to a shift in the sector and the growth and rise of smaller platinum companies including intense interest from foreign investors and operators alike

Top Trailblazing Platinum Mining Stocks for Your Precious WALLSTNOW

Platinum Group Metals Ltd PGM is a Canadian company with mining projects in the Bushveld Complex of South Africa a territory with some of the richest platinum deposits on Earth The company is poised to transform itself through the Waterberg Project a joint venture between five companies including PGM Impala Platinum and has a share of % in the Waterberg project which

Impala Platinum expects limited impact from Rustenburg strike

Impala spokesperson Johan Theron said the strike s impact was limited because NUMSA has only 3 000 members out of the mine s 45 000 strong workforce It will only impact production at two

The Crunch is coming for South African Platinum Mines by way of wage

Amplats recorded unit costs per PGM/oz of R11 739 in 2024 rising 9% to R12 832 in 2024 Amplats expects that their unit costs could rise to around 14% in 2024 Negotiations are expected to be protracted AMCU which in 2024 led the longest ever platinum mining strike settled for pay increases spread over three years following five months of

Platinum mining uses pricing and regulation in Zimbabwe

Exposure to platinum salts may cause irritation to the eyes nose and throat The long term effects may manifest in the form of skin allergies or respiratory complications The Centres for Disease Control and Prevention

Sustainability Reporting and the Platinum Group Metals A Global Mining

The global economic reserves are estimated by the United States Geological Survey USGS at 66 000 t pgms compared to 2024 production of 465 t pgms and cumulative production from 1900 to 2024 of 12 900 t recent detailed compilation of reported reserves and resources by project shows 88 800 t pgms Given the trend of maintaining and expanding economic resources the primary

Mining Strike Impacts South African Economy VOA

A wave of violent wildcat strikes that erupted periodically in 2024 rooted in a turf war between AMCU and the National Union of Mineworkers cost platinum and gold producers over 16 billion rand

Platinum Mining in Zimbabwe Africa Agriculture Insight

Zimbabwe s oldest platinum mine Mimosa is located in Zvishavane in the Southern part of the country s Great Dyke on the Wedza Geological complex It is owned by Impala Platinum and Aquarias Platinum It was exploited in 1920 for a brief period Union Carbide took over mining activities from 1966 to 1975 In 1992 ZIMASCO took over

Strike edging platinum sector to crisis producers Miningmx

Employee numbers in the South African platinum sector had shrunk to less than 134 000 souls by December 2024 from 145 000 in December 2024 A prolonged strike could exacerbate this reduction and may result in more restructuring and possible closures said Goodlace in a prepared statement

The future of the platinum industry and its implications for South Africa

At this week s Mining Lekgotla 13 14 August 2024 the future of the currently suppressed platinum industry is likely to be a key agenda item Whether fuel cell technology takes off is a critical determinant of what this future might look like In its latest set of facts and figures the Chamber of Mines states that despite the significant role and contribution of the platinum

South African mine strikes could damage country s economy analysts say

The sector s importance to the economy was made clear earlier in the year when Impala Platinum was hit by a six week strike and other companies endured safety stoppages The mining sector

Scandals and strikes an uncertain future for platinum in South Africa

Strikes have been a familiar aspect of the South African mining history most memorably with the Markiana massacre in 2024 The strike started at a Lonmin mine near Rustenburg and 41 mineworkers were killed by police In response a wave of further strikes swept across the sector Another blow to the industry came in January 2024 when nearly

Nine week miners strike has cost platinum industry $1 billion

The unions are asking for monthly wages of the lowest paid workers to be doubled to R12 500 £702 a month but the mining companies say this would work out as a 29 per cent increase in their

Impact mining strikes have on the South African economy

The Platinum strikes have caused what is called an adverse supply supply shocks cause prices for a given amount of output to increase Have no time to work on your essay Well we do We will write an essay sample crafted to your needs In time submission and academic quality guaranteed Secure Service

Impact of strikes on investors confidence in the South African mining

The impact of strikes in the South African mining industry has created a controversy nationally and internationally by affecting investors confidence Shares in the platinum mines were sold and were disinvested from South African platinum mines to offshore countries The situation has tarnished the reputation of South Africa which is known

Impact of strikes on investors confidence in the South African mining

Another challenge facing the platinum sector is that companies sold assets due to the impact of the strike on operations and unprofitable mines were closed The structure of the platinum companies would possibly change as the platinum companies merge with other companies This would change the capital structure of the companies

labour still inherently unstable after strike ends BMW

The car parts strike hit as the industry was recovering from three weeks of industrial action by more than 30 000 workers at major auto makers including BMW Ford Toyota and General Motors

The Effects of Platinum Mining on the Environment from a ResearchGate

Of the few studies that have been published they have mainly focused on the impacts of mining Maboeta et al 2024 Wahl et al 2024 or agriculture Helling et al 2024 Reinecke and Reinecke 2024

The impact of the 2024 platinum mining strike in South Africa An

According to a joint statement from the platinum producers the strike reportedly affected half of the global platinum supply in which employers forfeited revenue of approximately R23 billion and employees lost earnings of some billion

South Africa Lessons of the platinum miners strike

This campaign was attacked by some in the media who questioned why the miners need help when it is they who are on strike in the first place The answer is simple because the system is exploitative to begin with That is what pushed the workers to demand a living wage of R12 500 in the first place Attempts to break the strike

The Impact of COVID 19 on the Mining Sector SAP News Center

South Africa s mining sector is particularly exposed to the spread of Covid 19 According to the Minerals Council of South Africa the industry employs a workforce numbering almost 420 000 many of whom are underground on any given day Some mines have thousands of men and women underground descending into the depths in crowded cages

The South African Platinum Mining Industry Economics Essay

Figure Labour market equilibrium before unprotected strikes Figure Labour market equilibrium after unprotected strikes What is also interesting about the platinum market is that South Africa provides % of the worldâ s platinum supply and therefore major players are forced to remain in the country even though the macro and micro economics do not always stack up

South African Labor Unrest And Its Impact On Platinum Group Metal

The strikes could result in an increase in cash costs both as a result of an increase in input costs labor costs and as a result of reduced output increase in costs on a per ounce basis

SA mining production to improve as platinum strike fades

Jun 8 2024 By Coface international credit insurer Growth in SA mining production should continue to improve in the coming months as the effects of last year s five month platinum strike works through the economy However poor global growth lower commodity prices and interrupted electricity supply will keep output relatively weak

South Africa platinum strike Mine bosses threaten layoffs

These threats have been advanced by platinum mining executives for over a year Over the last two decades there have been substantial layoffs in the gold producing sector Mines were closed and South Africa is no longer the world s largest producer of gold According to an article published in the March 31 New Age Amplats CEO Chris

Major Impact of South Africa s Energy Crisis on Future Supply of

In 2024 global mine supply was some JM Global platinum mine supply depends heavily on the South African PGM mining industry which supplies about 72% of global platinum Russia North America and Zimbabwe supply around 12% 6% and 7% respectively JM 2024 Global platinum mine supply between 2024 and 2024 declined by c % CAGR

environmental impact of platinum mining in south africa

The Impact of the 2024 Platinum Mining Strike in South Africa An EconomyWide Analysis Bohlmann Dixon Rimmer and Van Heerden November 12 2024 Abstract In this paper we measure the economywide impact of the 2024 labour strike in South Africas platinum industry The strike lasted ve months Inquire Now effect of

What Is The Environmental Impact Of The Mining Industry

Mining is the extraction of minerals and other geological materials of economic value from deposits on the Earth Mining adversely affects the environment by inducing loss of biodiversity soil erosion and contamination of surface water groundwater and soil Mining can also trigger the formation of sinkholes

The Impact of the 2024 2024 Global Financial Crisis on Employment

Currently disruptive tendencies are already having huge negative impacts on the mining industry—especially in the Platinum Group Metals PGMs of the Rustenburg platinum belt North West province Platinum Mining and Global Market Trends Slow Down in the Demand of Platinum

Platinum miners win reprieve as South Africa strike delayed

The world s biggest platinum miners won a reprieve after a South African court reserved judgment on whether to block a week long industry strike that was scheduled to start Thursday night

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