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Global 3000

South Africa: The Iron Ore Crisis

The demand for raw materials has turned many ordinary towns into industrial centers. The town of Kathu in South Africa is one example. But iron ore prices have dropped drastically in recent years. Now residents of Kathu fear for their jobs.

Watch video 05:59

In December, they reached their lowest level since the financial crisis. While the residents of Kathu once benefited from huge profits, today they are fearing for their jobs.