Chamber of Mines says half of members in 'loss making territory'

The Chamber of Mines said about half of its members were in loss-making territory as a result of weakening commodity prices, rapidly rising costs, falling productivity and regulatory issues. In a statement issued ahead of wage talks set to begin at South Africa's three largest platinum companies, the chamber warned against a repeat of the strikes that have characterised previous negotiations "given the country's and sector's current straitened economic circumstances.