It’s either wage hikes or jobs, says Lonmin
The demand for a R12,500 a month salary is unsustainable and will cause some
workers to lose their jobs so that the remainder can earn that much, says Lonmin
CEO Simon Scott.
SA leaders thought Marikana would “blow over’
SA’s leaders did not respond earlier to the ongoing crisis in Marikana and
surrounding mines because they thought that "Marikana was an isolated incident'.
Num proposes its own peace strategy
The entire mining sector has to abandon existing wage agreements and start an
expanded round of central bargaining negotiations, according to the National Union of
Mineworkers.
Lonmin strike claims first job casualties
The ongoing strike at Lonmin’s operations has claimed its first operational casualty
as the company announces the closure of its K4 shaft.
Gold price quickens as Bernanke unveils Q3
The Federal Reserve’s largest and most sustained plan to speed recovery in the US
market by providing it with more cash, known as quantitative easing, could see the
gold price test $1,900/oz.
Gordhan lays out cost of mine violence
Minister of Finance Pravin Gordhan has spelled out the economic ramifications of the
ongoing labour crisis facing the country’s mining sector as the government vows to
step up action.
Gold shares surge 4% on JSE, platinums follow
Gold and platinum shares shrugged off the blues on Friday as the metal prices for
both gained further traction, although for quite different reasons.
Aquarius temporarily halts Kroondal
Aquarius Platinum has temporarily suspended its sole operating asset in South
Africa, saying that its Kroondal joint venture with Anglo American Platinum will be
closed until Sunday.
Holland: “We’re not making that much money’
THE gold industry is starting to recognise that investment cannot be sustained while
returns remain low, says Gold Fields CEO Nick Holland.
Shabangu says miners were “caught napping’
Mines Minister Susan Shabangu says mining companies were caught napping by the
wildcat strikes and promises to apply terms of the updated mining charter in tougher
terms.