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GOLD ON LIFE SUPPORT

16th August 2013

By: Darlene Creamer

  

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South Africa’s gold industry is currently like a patient in a hospital bed with an oxygen mask, a heart monitor and a full life support system. More than half of South Africa’s gold mines are losing money and the other half may be about to. What a time for the gold miners to demand pay rises of 60% to 150%. The way forward, says the Chamber of Mines, is for all stakeholders to play a role in reducing cost pressures, improving productivity and repositioning the industry for growth through a focus on competitiveness. The South African economy needs tender, loving care at the moment. The country’s people need to value their economy and create as many jobs as possible for the common good.

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