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Sep 29, 2013

Amplats strikers in South Africa to rally on Monday

JOHANNESBURG (Reuters) – Striking South African workers at mines operated by Anglo American Platinum (AMSJ.J: Quote, Profile, Research, Stock Buzz) kept the company guessing about whether they will call off the stoppage at a rally on Monday.

Miners with the hardline Association of Mineworkers and Construction Union (AMCU) downed tools on Friday to protest plans by Amplats, the world’s largest producer of the precious metal, to cut 3,300 jobs to restore profits.

Sep 27, 2013

Strike hits Amplats South African mines

JOHANNESBURG, Sept 27 (Reuters) – Fewer than one in five
workers turned up for work at Anglo American Platinum’s
(Amplats) South African platinum mines around the city
of Rustenburg, it said on Friday, in protest against planned job

Amplats – part of global mining group Anglo American
and the world’s No. 1 producer of the precious metal – said last
month it would cut 4,800 jobs, laying off 3,300 workers and
paying off the rest.

Sep 26, 2013

South Africa coal producers and unions to resume talks on Monday

JOHANNESBURG, Sept 26 (Reuters) – South African coal
producers and unions will meet again on Monday next week to try
to hammer out wage agreements and avert possible strike action
that could affect exports to Europe and Asia and supplies to
power utility Eskom.

Companies, which include units of global mining giants Anglo
American and Glencore Xstrata, made a revised
above-inflation wage offer to employees last week, raising hopes
of an agreement in the sector without industrial action.

Sep 12, 2013

In Africa growth story, don’t forget the aid

JOHANNESBURG, Sept 12 (Reuters) – Africa’s robust economic
growth over the past decade has raised hopes the world’s poorest
continent can reduce reliance on aid.

The problem with this scenario is its failure to consider
the role aid may be playing in the “Africa Rising” narrative.

Sep 11, 2013

S.Africa gold wage hikes to add $150 mln in costs-industry

JOHANNESBURG, Sept 11 (Reuters) – Wage settlements in South
Africa’s gold sector will amount to 1.5 billion rand ($150
million) in extra costs for companies over the next 12 months,
the country’s Chamber of Mines said on Wednesday.

Companies and unions agreed to wage hikes of up to 8 percent
last week, ending a three-day strike in an industry that has
produced a third of the bullion ever pulled from the earth but
is now in almost terminal decline.

Sep 10, 2013

South Africa’s Gold Fields says under U.S. SEC investigation

JOHANNESBURG (Reuters) – South African bullion producer Gold Fields said on Tuesday it was being investigated by the U.S. Securities and Exchange Commission over a $210 million black empowerment deal involving a senior member of the ruling party.

Gold Fields, which is also listed in the United States and so subject to scrutiny from U.S. regulators, said in a statement it was being probed over the 2010 deal and the granting of a mining license for its South Deep mine near Johannesburg.

Sep 5, 2013

South Africa’s gold talks sway platinum price

JOHANNESBURG/LONDON Sept 5 (Reuters) – South Africa’s
platinum producers may have been the unintended beneficiaries of
deadlocked wage talks and a strike in the country’s gold mines,
but they equally risk losing ground as negotiations show signs
of making headway.

If the bullion strike ends sooner than expected, the
platinum celebration may be short-lived.

Sep 4, 2013

S.African gold miners ease some pay demands as strike bites

JOHANNESBURG, Sept 4 (Reuters) – South Africa’s main mining
union has offered to compromise on some of its demands for
higher pay after launching a strike that hit production at most
of the country’s gold mines on Wednesday.

The stoppage called by the National Union of Mineworkers
(NUM) began at the evening shift on Tuesday, with many miners
refusing to go underground, producers said.

Sep 3, 2013

Strike starts in South Africa’s gold mines

JOHANNESBURG (Reuters) – A strike in South Africa’s gold mines began on Tuesday with some workers failing to go underground for the evening shift, despite an appeal by President Jacob Zuma for a solution to avert a stoppage that will hurt Africa’s largest economy.

“It has officially started. There are people who have not gone underground,” Charmane Russell, a spokeswoman for gold producers grouped in the Chamber of Mines, told Reuters.

Sep 2, 2013

Mine unions, bosses in war of words before S.Africa gold strike

JOHANNESBURG, Sept 2 (Reuters) – South African union leaders
warned on Monday, a day before a strike in the gold sector, that
mine owners’ handling of pay talks could provoke violence, and
bosses said wage hikes would force mine closures and cost
thousands of jobs.

The National Union of Mineworkers (NUM), which represents
about two-thirds of more than 120,000 unionised gold miners in
Africa’s biggest economy, is set to strike from Tuesday.

    • 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."
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