Senior Correspondent
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May 29, 2013

South Africa labour strife creating vicious cycle

JOHANNESBURG, May 29 (Reuters) – Labour unrest in South
Africa’s mines, which threatens to spread to bigger sectors like
manufacturing, is plunging the economy into a vicious cycle that
may spiral into stagflation, disinvestment and more social
upheaval.

South Africa’s rand has lost 16 percent against the dollar
so far in 2013 and hit new four-year lows this week, with mining
worries triggering the latest sell-off – which picked up pace on
Tuesday when data showed growth in Africa’s top economy slowed
to a snail’s pace as manufacturing output shrank.

May 20, 2013

South African mine wage demands roil shares, rand

JOHANNESBURG, May 20 (Reuters) – Big wage hikes demanded by
the government-allied trade union in South Africa’s coal and
gold industries helped push the rand to a four-year low on
Monday, highlighting the ripple effect of the prospect of more
turmoil in the industry.

The National Union of Mineworkers’ (NUM) call for pay rises
of up to 60 percent in a submission to the Chamber of Mines seen
by Reuters on Sunday rattled mining investors after wildcat
strikes at platinum and gold mines killed 50 people and cost
billions in lost output last year.

May 20, 2013

South African wage demands send rand to four year low

JOHANNESBURG, May 20 (Reuters) – Big wage hikes demanded by
the government-allied trade union in South Africa’s coal and
gold industries helped push the rand to a four year low on
Monday, highlighting the ripple effect of the prospect of more
turmoil in the industry.

The National Union of Mineworkers’ (NUM) call for pay rises
of up to 60 percent in a submission to the Chamber of Mines seen
by Reuters on Sunday rattled mining investors after wildcat
strikes at platinum and gold mines killed 50 people and cost
billions in lost output last year.

May 19, 2013

Exclusive: South Africa’s NUM seeks 15-60 percent wage rises from gold, coal producers

JOHANNESBURG (Reuters) – South Africa’s National Union of Mineworkers said it would seek pay rises of up to 60 percent from gold and coal producers, raising the prospect of fresh strikes as firms battle higher costs and falling prices in an already heated labor climate.

Africa’s biggest economy is hoping to avoid the 2012 wildcat strike action at platinum and gold mines that cost billions in lost revenue and production and killed over 50 people.

May 19, 2013

S.Africa’s NUM seeks 15-60 pct wage rises from gold, coal producers

JOHANNESBURG, May 19 (Reuters) – South Africa’s National
Union of Mineworkers said it would seek pay rises of up to 60
percent from gold and coal producers, raising the prospect of
fresh strikes as firms battle higher costs and falling prices in
an already heated labour climate.

Africa’s biggest economy is hoping to avoid the 2012 wildcat
strike action at platinum and gold mines that cost billions in
lost revenue and production and killed over 50 people.

May 16, 2013

style platinum cartel a pipe-dream

JOHANNESBURG, May 16 (Reuters) – South Africa is the Saudi
Arabia of platinum with steroids thrown in.

But Pretoria could never manipulate the platinum price the
way the Middle Eastern kingdom can influence oil’s and talk of a
platinum cartel, perhaps along the lines of the Organization of
the Petroleum Exporting Countries (OPEC), is a pipe-dream.

May 16, 2013
via FaithWorld

Book Talk: Of apes and atheists – is empathy evolution?

Photo

(Bonobo apes, primates unique to Congo and humankind’s closest relative, groom one another at a sanctuary just outside the capital Kinshasa, October 31, 2006. REUTERS/Finbarr O’Reilly)

For biologist Frans de Waal, a peaceful species of great ape in Africa is a mirror of humanity and a living argument that empathy and cooperation are far from unique to mankind.

May 15, 2013

Lonmin’s South African platinum workers end strike

MARIKANA, South Africa (Reuters) – Workers at Lonmin’s South African platinum shafts were ending a walkout, the company said on Wednesday, easing fears that a two-day strike could ignite fresh labor violence in the continent’s largest economy.

Leaders of the Association of Mineworkers and Construction Union (AMCU) earlier told thousands of strikers at a rally to return to their posts, pending negotiations between the union and an independent mediator.

May 15, 2013

South African union urges Lonmin workers to end strike

MARIKANA, South Africa (Reuters) – The main union at Lonmin’s (LMI.L: Quote, Profile, Research, Stock Buzz) (LONJ.J: Quote, Profile, Research, Stock Buzz) South African platinum shafts told striking miners to return to work on Wednesday, potentially defusing a two-day wildcat action that had raised fears of a fresh wave of labor violence.

Leaders of the Association of Mineworkers and Construction Union (AMCU) told thousands of strikers at a rally to return to their posts, pending negotiations between the union and an independent mediator.

May 15, 2013

Lonmin’s South African platinum strike enters second day

MARIKANA, South Africa (Reuters) – Labor strife in South Africa’s platinum belt intensified on Wednesday as a wildcat strike across Lonmin’s shafts entered a second day, raising fears that further violence could hit the country’s credit rating.

Tensions have been running high over looming job cuts and wage talks in the sector, complicated by a turf war between rival unions that contributed to violent strikes at Lonmin and other platinum producers last year.

    • About Ed

      "I cover commodities in southerrn Africa, a region that I have returned to after spending over four years covering religion, politics and the Great Recession in America. I am a Canadian citizen and grew up in Nova Scotia."
      Joined Reuters:
      1995
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