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S.African coal miner Seriti plans 1,200 job cuts...
18 Sep, 2024 12:53
669 min read
Seriti Resources, a major coal supplier in South Africa, plans to cut 1,241 jobs at its Middleburg mines and Klipspruit South-East pit due to lower coal prices and rail bottlenecks. The job cuts come as the mines struggle with Transnet's underperformance and market volatility. Seriti has initiated consultations with labor unions, but the National Union of Mineworkers (NUM) has vowed to oppose the retrenchments. Coal prices have dropped significantly from 2022 highs, adding pressure to the company....
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