Mining Jobs in Decline

As recession confirmations spread around the world and commodity markets decline, the mining industry, which saw so much significant growth in recent years, is beginning to forecast layoffs. The Associated Press reports that 10,000 layoffs are expected in South Africa. In particular, the platinum mining industry is suffering, for it feeds into automotive manufacturing markets. Until personal vehicles and new shipping trucks are needed, those platinum mines may remain on hold; while other metals operate at a diminshed capacity as well.