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Sep 28, 2012

Implats says pay hikes aimed at ensuring peace

JOHANNESBURG, Sept 28 (Reuters) – World no. 2 platinum
producer Impala Platinum said on
Friday pay hikes it had offered to avert a strike were aimed at
ensuring peace against the backdrop of a wave of violence and
wildcat action rocking South Africa’s mining sector.

“The overriding imperative … should be to ensure peace,
stability and order and in so doing create an environment for
safe production. The wage adjustment supports this imperative,”
chief executive Terence Goodlace said in a statement.

Sep 19, 2012

Lonmin deal pressures other South Africa mining firms

JOHANNESBURG (Reuters) – A violent six-week strike at world No. 3 platinum producer Lonmin has come to an end with a hefty wage settlement that could stir more strife in South Africa’s restive mining sector.

Lonmin’s 11-to-22 percent pay hike deal with striking workers may be a red rag for others in an industry riven by income disparities laid bare by a wave of violent industrial action in which 45 people died last month.

Sep 11, 2012

South Africa’s Implats details second pay bid by militant labor

JOHANNESBURG (Reuters) – South Africa’s Impala Platinum faces a second pay bid from miners equal to an 8-10 percent hike granted in April, the world’s No. 2 platinum producer said on Tuesday, and its shares tumbled on the size of the latest demand from militant labor.

Unrest has been sweeping South Africa’s bellwether mining sector with a wave of violence that killed 44 people in August, including 34 in a hail of police bullets near the Marikana mine of platinum producer Lonmin.

Jul 24, 2012

S.Africa stocks higher; caution ahead of earnings

JOHANNESBURG, July 24 (Reuters) – South African stocks
gained over half a percent on Tuesday, clawing back some of the
previous session’s steep losses, as investors cautiously waded
back into the market ahead of a rush of corporate earnings.

Bullion heavyweights AngloGold Ashanti and Gold
Fields both maintained a technical rally mobile
operator MTN and others were lifted by investors
searching for higher dividends.

Jul 23, 2012

South Africa platinum miners face more labor militancy

JOHANNESBURG (Reuters) – Anglo American Platinum (Amplats) (AMSJ.J: Quote, Profile, Research, Stock Buzz), the world’s top platinum producer, signaled on Monday it plans to trim loss-making shafts as producers of the metal grapple with depressed prices and a rise in union militancy.

Amplats, an Anglo American (AAL.L: Quote, Profile, Research, Stock Buzz) unit which unveiled interim results that as expected showed an almost 80 percent fall in earnings, confirmed it experienced a brief strike last week around its Rustenburg operations as inter-union rivalry spreads through the platinum belt.

Jul 18, 2012

Congo unrest threatens push to curb conflict minerals trade

JOHANNESBURG/ABIDJAN (Reuters) – Months of unrest in Congo’s volatile but resource-rich east is hampering an international push to curb the traffic of gold, tin and other metals by rebel groups, efforts which campaigners say are key to ending violence and encouraging legitimate mining.

International organizations such as the OECD and the United Nations, and pressure groups including the Enough Project and Global Witness, want to cut the rebels’ access to funds by insisting that companies do due diligence on metals they buy.

Jul 10, 2012

Minister may step up sanctions for S.African mines

JOHANNESBURG, July 10 (Reuters) – South Africa’s deputy
mines minister has threatened to step up sanctions, including
closures, for mines which flout health and safety rules
resulting in fatalities.

Godfrey Oliphant was speaking at a memorial service for five
miners, from world No.4 bullion producer Gold Fields,
who died just over a week ago in a fire at the company’s
operations west of Johannesburg.

Jul 6, 2012

SEC to clarify rules for murky resource sector

JOHANNESBURG, July 6 (Reuters) – Murky deals between
resource companies and governments in Africa and elsewhere face
tougher scrutiny after U.S. authorities c l arify disclosure rules
next month, although intense lobbying by industry giants may
have ensured the changes are limited.

The rules require energy and mining firms with U.S. listings
to disclose payments to foreign governments. Enacted two years
ago under the Wall Street Reform Act, the U.S. Securities and
Exchange Commission (SEC) has not finalised the requirements,
frustrating investors and activists alike.

Jul 4, 2012

Insight: South Africa mine union revolt shows cracks in ANC rule

MODDER EAST/JOHANNESBURG (Reuters) – Shaking his fist and surrounded by angry colleagues, South African gold miner Chres Manyaka raged against ‘fat cats’ getting rich from the sweat of the workers.

But he was not talking about managers of the Gold One company, which had sacked him and several other fellow workers for an illegal strike at the mine east of Johannesburg.

Jul 4, 2012

S.Africa mine union revolt shows cracks in ANC rule

MODDER EAST/JOHANNESBURG July 4 (Reuters) – Shaking his fist
and surrounded by angry colleagues, South African gold miner
Chres Manyaka raged against ‘fat cats’ getting rich from the
sweat of the workers.

But he was not talking about managers of the Gold One
company, which had sacked him and several other fellow
workers for an illegal strike at the mine east of Johannesburg.

    • 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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