Senior Correspondent
Ed's Feed
Oct 1, 2012

S.Africa mine bosses talk tough with strikers

JOHANNESBURG, Oct 1 (Reuters) – Top global platinum producer
Anglo American Platinum (Amplats) said on Monday it
would fire all strikers who did not attend disciplinary hearings
the following day as an illegal strike continued at 4 of its
South African mines.

With no end in sight to a spate of wildcat strikes in South
Africa, AngloGold Ashanti warned that an illegal
stoppage could lead to cuts in its operations there and said it
might also have to fire workers.

Oct 1, 2012

Anglo American to face S.Africa silicosis hearing

JOHANNESBURG, Oct 1 (Reuters) – Anglo American Plc’s
South African unit will face a hearing next year to determine if
it is liable for miners who contracted lung disease silicosis
while working in the company’s gold shafts, lawyers for the
plaintiffs said on Monday.

Anglo American no longer has gold assets in South Africa,
but the proceedings, initiated by 18 plaintiffs, have been
launched on the grounds that miners contracted the debilitating
disease when the company still ran bullion mines.

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.

    • 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:
    • Follow Ed