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'Job losses high if taxes go ahead'

By Sapa | Dec 14, 2012 | COMMENTS [ 15 ]

The Chamber of Mines says the mining sector will shed tens of thousands of jobs if ANC delegates decide to impose higher taxes on it.

“It will mean a lot of marginal mines will need to be mothballed and, in terms of job losses, the probability is that it would run into the tens of thounsands,” Chamber of Mines CEO Bheki Sibiya said.

“Our engagement with the ANC will probably be more intense after Mangaung.”  The African National Congress elective conference in Mangaung, which starts on Sunday, will finalise decisions on policies that the government will then take on board.

The party would probably adopt a proposed mineral resource rent tax of 50% on profits above 15% of normal returns.

This year, the mining sector lost 15,000 jobs in the third quarter after months of wildcat strikes across mines.

COMMENTS [ 15 ]

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Do they care? As long they can have themselves stakes in there. Government can start its own mines and pay its mine employees in line as in the individual own mines and still sell its output at market prices so competition won't hurt the private mines. Huge taxes lowers operations or produce and layoff the workers. Or they can reduce taxes for companies operating in limpopo and northwest, as it is where platinum is so it can attracts investments there.

Dec 14, 2012 7:47 | 0 replies

BlackSeed - The 'earth farm' is too small to sustain the current population. Realistically, the earth can sustain 500 million people indefinitely...

Currently the worlds population is 7 billion.

Dec 14, 2012 11:56 | 0 replies

Why do these capitalists always threaten workers and government with job losses? I wish these Job losses can be realized so the Earth Farm can have an abundance of the poor so an Uprising can be outstanding.

Dec 14, 2012 10:24 | 0 replies

Dzel

The vast majority of the mining houses are publicly listed entities so their balance sheets are freely available. Look up how much they are 'looting'. Most of them are not making much. The raw materials are not where the money is

Dec 14, 2012 10:16 | 0 replies

@Dzel

Surely there are investors like those from china, they will come and loot like they are doing in Zimbambwe together with Zanu hooligans ....

I'm sure you are one of those people who are inspired by what we see in Zim.

Go on and set your ill-advised conditions and see what will happen.

Dec 14, 2012 9:50 | 0 replies

itsinshecried
Also. Why in the space of a few short years,have we gone financially from a small surplus, to debt of over 40% of gdp. The country will soon be a beggar in the same league as Zimbabwe.

Dec 14, 2012 9:42 | 0 replies

Why is it that hen business is asked to give back to communities we are also told about jobs?

Whose minerals are they mining and shouldn't they pay more for those minerals?

If you are not prepared to pay just royalties on the minerals you entire business operation is based on then you are free to stop operations, I am sure there are other investors who will fill that gap. Principle takes precedence over individual greed however they try to package this greed using fear of losing jobs.

Our resources cannot continue being looted at will; we need to be setting conditions under which mining should operate, they should not be dictating to us how they want to operate.

Dec 14, 2012 9:39 | 0 replies

@Voetzek

we are complaining of not unemployment rate in SA and now poor people are still going to lose jobs lets all vote for DA period.
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Voetzek voetzek.

Dec 14, 2012 9:32 | 0 replies

@itsinshecried

seen as a sellout? interesting...

you sound like my mother in law, she goes to church but she's got questions about things being said and done in the church which are wrong, but she still goes there...

Wake up, there anc is a f*ck-up.

Dec 14, 2012 9:15 | 0 replies

Please, people within the ANC help me with the following -

1. Does the ANC listen to political analysts when they caution about the down fall of the ANC. ?
2. Is the ANC not pertubed about the drop of standards in Government Departments and Municipality
because of cadre deployment ?
3.Is the ANC not worried about appointing people with criminal records such as Tony Yengeni, Winnie
Mandela, etc ?
4. Why are ANC leaders especially in higher positions visit poor communities while travelling in
flashy cars and wearing expensive clothes ? Also I read an article on Sunday Times about
Minister Lindiwe Sisulu's overseas trips and purchase of expensive clothes. Is such disclosure not
a mockery to the poor and unemployed ?
5. Why are people like Dicky Masemola, Angie Motsekga still in High positions despite their poor
performance ?

Please, my questions should be answered by people in the ANC. I am afraid to raise these questions in my branch. I am an ANC member but I would be seen as a sellout and disruptive if I question my leaders.

Dec 14, 2012 9:9 | 0 replies

we are complaining of not unemployment rate in SA and now poor people are still going to lose jobs lets all vote for DA period

Dec 14, 2012 8:54 | 0 replies