Mining strikes in South Africa are continuing as production levels dip and trades close at the lowest levels in more than five years. According to Business Report, employees at three of the largest platinum producers have yet to reach an agreement on wages and other demands and will therefore maintain the strike. This is distressing to stakeholders who are concerned about decreased productivity and devaluation, stated Mining Weekly. KPMG's global head of mining, Wayne Jansen, said during this difficult time within the industry, the future is still unclear of the sector is still unclear.
"A successful mining industry in South Africa is in the interest of all stakeholders that are directly and indirectly linked to it," Jansen said.
As the mining sector is critical to the region's economy, government authorities are working to mediate the differences separating employers and workers' unions, finance minister Pravin Gordhan told Business Report.
In addition to wage increases, many mining strike leaders and participants also want improved working conditions. Mining groups can boost safety by implementing equipment condition monitoring systems. Such technology provides the means for preventive maintenance, which can prevent system failures and lead to downtime. In addition, when key machinery is optimally functioning, it is less likely to cause employee injuries.