Glencore's mining suspension lifted

web_photo_Ngoako Ramatlhodi

Mineral Resources Minister Ngoako Ramatlhodi signed the agreement with Canada's Minister of International Trade, Ed Fast. The MoU was concluded on the sidelines of the Prospectors and Developers Association of Canada conference.

JOHANNESBURG - The Mineral Resources Minister has conditionally lifted the suspension of Glencore’s Optimum Coal Mine.

Earlier this week, Minister Ngoako Ramatlhodi told Glencore on Tuesday to shut a coal mine because it failed to follow proper legal procedure during planned job cuts. 

Ramahlodi also said the retrenchments were inhumane.

Last month, Glencore said it would cut 380 jobs and close some of its operations at Optimum.

The company says it’s been supplying Eskom with coal at prices lower than the production cost.

South Africa&39;s mining industry is taking strain, commodity prices have plummeted, forcing several companies to restructure and lay off workers.

Paid Content