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Strikes, lower production levels hurt mines

2 Jul 2012

According to a Business Day report, work stoppages - mainly as a result of strike action - and rising costs in the mining sector are hurting the output of South African mines and reducing the sector's contribution to economic growth. Statistics South Africa's figures show that mining contributed the most to a decline in the total income of eight South African business sectors.

StatsSA says the unemployment rate rose to 25,2% in the first quarter of this year, driven by widespread job losses in the manufacturing and construction sectors, while Business Day reports that the closure of mines along with cuts in future expansion plans and lower production output could lead to a further rise in the unemployment rate later this year.

Read the full article on www.businessday.co.za.