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Jul 31, 2011

Talks seek to end S.Africa coal, gold strikes

JOHANNESBURG, July 31 (Reuters) – Striking South African
coal and gold miners will meet the Chamber of Mines in separate
talks on Monday to end stoppages that have cost Africa’s
largest economy tens of millions of dollars in lost output.

Coal output has been halted for a week, while some 100,000
gold miners downed tools on Thursday, bringing production to a
halt at AngloGold Ashanti (ANGJ.J: Quote, Profile, Research, Stock Buzz), Gold Fields (GFIJ.J: Quote, Profile, Research, Stock Buzz) and
Harmony Gold (HARJ.J: Quote, Profile, Research, Stock Buzz) at a time when the bullion price is at
record highs.

Jul 29, 2011

S.African gold miners to talk as strike starts

JOHANNESBURG, July 29 (Reuters) – South African gold mine
workers and the major producers were due to meet at 0800 GMT on
Friday for wage talks, in a bid to end a strike that could halt
daily output worth up to $25 million at a time when the price of
bullion is near record highs.

Some 100,000 workers at AngloGold Ashanti , Gold
Fields , Harmony Gold and another smaller
mining group downed tools on Thursday, demanding wage hikes of
14 percent against offers of 7 to 9 percent.

Jul 27, 2011

South Africa’s gold miners set to strike

JOHANNESBURG, July 28 (Reuters) – Tens of thousands South
African gold miners will down tools on Thursday, intensifying a
wave of strikes and potentially costing the gold mining sector
$25 million a day in lost output.

Unions representing coal workers were set to meet the
chamber of mines in a last-ditch bid to end a wage strike in
that industry also.

Jul 27, 2011

S.Africa police raid mines department

JOHANNESBURG, July 27 (Reuters) – Elite South African police
investigating possible fraudulent mining permits on Wednesday
raided the mines department and a company linked to a dispute
between one of the world’s biggest mining companies and a unit
of steel giant ArcelorMittal.

McIntosh Polela, spokesman for the police Hawks unit, said
the raids centered on the government’s mining department in
Pretoria and its regional offices in Kimberly, which oversees
minerals rights in Northern Cape province.

Jul 27, 2011

S.Africa’s mediator sees possible end to fuel strike

JOHANNESBURG, July 27 (Reuters) – Striking workers in South
Africa’s petroleum sector are discussing a revised wage offer to
end a strike in its third week as labour strife spreads to the
vital mining sector, threatening supplies of coal and gold.

Hundreds of thousands of workers across the country have
walked off the job in recent weeks, or are threatening to do so,
seeking pay rises of double or triple the 5 percent inflation
rate in mid-year bargaining known as “strike season”.

Jul 26, 2011

South African strikes to spread to gold sector

JOHANNESBURG, July 26 (Reuters) – South African gold miners
will join thousands of workers already in a nationwide strike
this week, threatening supply of the precious metal at a time
when bullion is at record highs.

Hundreds of thousands of workers across the country have
downed tools in recent weeks, or are threatening to do so,
seeking raises double or triple the 5 percent inflation rate in
the mid-year bargaining session known as “strike season”.

Jul 25, 2011

Amplats holds 2011 output target, HI profit up

JOHANNESBURG, July 25 (Reuters) – Anglo American Platinum
, the world’s largest platinum producer, held to its
2011 output target of 2.6 million ounces on Monday as it
predicted a stronger second half.

Its first-half headline earnings rose 20 percent as expected
on higher sales and prices but the miner, a unit of global giant
Anglo American , said costs remain a concern.

Jul 13, 2011

Strikes loom across S.African economy

JOHANNESBURG, July 13 (Reuters) – Strikes are looming in
South Africa’s gold and platinum sectors which could threaten
global supplies at a time when commodity prices are red hot.

Africa’s largest economy is also grappling with spreading
strikes in its petroleum sector which could have an impact on
refinery production and domestic fuel supplies.

Jul 13, 2011

SAfrica’s mine nationalisation needs debate-AngloGold

JOHANNESBURG, July 13 (Reuters) – Nationalisation of South
Africa’s mines needs to be debated and not dismissed, the head
of Africa’s top gold miner said on Wednesday as he warned that
such a move could destroy the country’s fiscal stability.

The comments by Mark Cutifani, the chief executive of
AngloGold Ashanti , are the latest from top miners on
the issue, underscoring boardroom concerns that talk of
nationalisation by radical elements in the ruling African
National Congress are making investors and shareholders nervous.

Jul 7, 2011

S.Africa unions say coal, Amplats’ strikes loom

JOHANNESBURG, July 7 (Reuters) – South African unions on
Thursday threatened strike action in the coal mining sector and
against the world’s top platinum producer, moves that may
threaten the country’s exports to resource-hungry Asia.

Africa’s largest economy is also almost exclusively
coal-powered, and energy supplies are tight, but utility Eskom
has said it has enough coal in stock to last 41 days,
so a strike would have to be lengthy to affect its operations.

    • 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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