South Africa’s mining sector crisis deepens as thousands of jobs vanish

South Africa’s mining sector is facing a severe crisis, with a fresh wave of job losses threatening thousands of livelihoods and casting a long shadow over the country’s economic future.

This week, Glencore announced formal consultations on extensive job cuts across its ferrochrome and vanadium operations, including the Boshoek and Wonderkop smelters, the Lion smelter, and the Rhovan vanadium facilities.

South Africa is a significant player in the global ferrochrome market, holding around 80% of the world’s known chrome ore reserves. The move comes as the company faces a host of challenges, including power cuts, increasing electricity costs etc.

The closure could result in the loss of up to 2,425 direct jobs, with the National Union of Mineworkers estimating as many as 17,000 indirect jobs at risk in supplier and service industries. According to Willie Venter, deputy general secretary of the Solidarity union, Glencore has already seen ten of its 22 furnaces either permanently or temporarily closed.