South Africa’s Economic Growth Impacted By Platinum Strikes

Mining Weekly reported two months of crippling labour turmoil are likely to force South Africa to look again at its economic growth forecasts, the central bank’s deputy governor said on Sunday.

As quoted in the market news:

Wildcat strikes that started in the platinum mines have left more than 50 people dead and spilled to other industries, undermining investor confidence in Africa’s biggest economy and tarnishing President Jacob Zuma’s government.

More than 70 miners were arrested after clashes with police over the weekend and workers at Anglo American Platinum pledged to press on with their wildcat strike even after the company dismissed thousands of strikers.

Click here to read the full Mining Weekly report.

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