Finance minister
Trevor Manuel
 
Johannesburg, South Africa — MININGREVIEW.COM — 02 March 2009 – Against the background of the global financial crisis and plummeting commodity prices, the precarious position of the South African mining industry seems set to continue or to deteriorate further.

South African finance minister Trevor Manuel said job losses may increase as mines are shut, Reuters reported, citing a speech by Manuel broadcast by SAFM radio.

“The impact of mine closures is going to be very severe,” Manuel told businessmen in the town of Springbok in the Northern Cape province, according to Reuters. Manuel said there had to be proposals in place to help limit job losses and rehabilitate mining towns, the news agency reported.