The South African National Union of Mineworkers has called for restrictions to be urgently placed on the export of resources, particularly chrome and ferrochrome.

NUM appealed to the SA government to review the role of China in the economy and said the country's investment in SA needs to be viewed with caution.

The trade union said it has reliably learnt that China is stock piling chrome and ferrochrome in order to dictate prices in the future".

SA, which is seeking to implement new beneficiation laws that will compel mining companies to ass value to resources before export, is home to about 80% of the world's chrome resources and produces 45% of the world's ferrochrome.

The local ferrochrome industry has warned that its future is at risk as producers contemplate leaving SA for more competitive shores.

(Sourced from businesslive.co.za)