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May 12, 2013

Union organiser shot dead in S.Africa’s restive platinum belt

JOHANNESBURG, May 12 (Reuters) – A militant South African
union said on Sunday that one of its organisers had been shot
dead in the platinum belt city of Rustenburg, a potential
flashpoint at a time when tensions are running high with job
cuts and wage talks looming.

The Association of Mineworkers and Construction Union
(AMCU), which poached tens of thousands of disgruntled workers
last year from the dominant National Union of Mineworkers (NUM),
said the unnamed organiser had been killed on Saturday.

May 8, 2013

Tensions high as Amplats to unveil S.Africa job cuts plan

JOHANNESBURG (Reuters) – Anglo American’s platinum arm, under pressure from South Africa’s government, could announce a restructuring plan as early as Thursday that will sharply scale back job losses as it tries to balance out cost cuts and the threat of labor unrest.

Anglo American Platinum had planned to slash 14,000 jobs and mothball two mines to pull back to profit but industry sources have told Reuters that the final plan would be pared back, with as few as 5,000 jobs cut.

May 8, 2013

South Africa’s main mine union to launch youth wing as numbers fall

JOHANNESBURG (Reuters) – South Africa’s dominant mineworkers union will launch a youth wing on Thursday in a bid to shore up its numbers after it lost tens of thousands of members to a militant rival last year on the country’s platinum belt.

The National Union of Mineworkers (NUM), which says it has around 300,000 members or about 60 percent of the mine workforce in the world’s top platinum producer, is a key political ally of the ruling African National Congress (ANC).

May 3, 2013

S.Africa stocks lifted by U.S. jobs data, Harmony slides

JOHANNESBURG, May 3 (Reuters) – South African stocks climbed
to one-month closing highs on Friday, boosted by global peers
and upbeat U.S. jobs data, but the country’s No. 3 bullion
producer Harmony Gold fell sharply after posting a
loss.

The benchmark Top-40 index gained 1.75 percent to
34,963.97, its highest close since early April. The broader
All-Share index added 1.3 percent to 39,592.28, also a
one-month closing high.

Apr 29, 2013

S.Africa’s wounded NUM seeks big pay hikes from mining companies

JOHANNESBURG, April 29 (Reuters) – South Africa’s National
Union of Mineworkers, which has lost tens of thousands of
members in the past year to a militant rival, will demand
double-digit pay hikes in wage talks this year that companies
have said they can ill afford.

Wage talks across South Africa’s mining sector begin in May
and could be among the toughest ever with strikes a certainty
given inflation, growing worker militancy and shrinking company
margins as commodity prices fall.

Apr 26, 2013

Africa is still way too dependent on resources

JOHANNESBURG (Reuters) – Africa’s brisk economic growth over the past decade has been consumer driven, a much-hyped trend that masks the uncomfortable fact that the region remains far too reliant on commodities.

Sub-Saharan Africa’s growth has been second only to Asia and cracked along at 5.8 percent last year, according to a World Bank estimate, if South Africa, the continent’s biggest economy, is excluded.

Apr 15, 2013

Analysis: South Africa mine wage talks may be toughest yet

JOHANNESBURG (Reuters) – Wage talks across South Africa’s mining sector starting in May will be among the toughest ever with strikes a certainty given inflation, worker militancy and shrinking company margins.

There is also real risk of a repeat of the labor violence and wildcat action that led to over 50 deaths last year, costing companies and the state billions of dollars in lost revenue.

Apr 15, 2013

South Africa mine wage talks may be toughest yet

JOHANNESBURG (Reuters) – Wage talks across South Africa’s mining sector starting in May will be among the toughest ever with strikes a certainty given inflation, worker militancy and shrinking company margins.

There is also real risk of a repeat of the labour violence and wildcat action that led to over 50 deaths last year, costing companies and the state billions of dollars in lost revenue.

Apr 2, 2013

Lonmin picks Amplats executive to lead turnaround

JOHANNESBURG, April 2 (Reuters) – South African platinum
producer Lonmin PLC appointed Anglo American Platinum
(Amplats) executive Ben Magara as its new chief
executive on Tuesday as it strives to rebound from a wave of
deadly strikes which hammered it last year.

Magara, who will start in July, will be tasked with guiding
Lonmin’s turnaround and improving industrial relations at the
company after illegal strikes last year triggered violence which
killed 46 people, including 34 strikers shot dead by police in a
single day at its Marikana mine.

Apr 1, 2013

South Africa says Mandela’s condition has improved

JOHANNESBURG (Reuters) – The condition of South Africa’s former President Nelson Mandela has improved further, the government said on Sunday, as the 94-year-old anti-apartheid hero spent a fourth day in hospital receiving treatment for pneumonia.

“Nelson Mandela had a restful day,” South Africa’s presidency said in a statement, adding doctors treating him had reported “a further improvement in his condition”.

    • 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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