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.
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.
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.
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.
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.
Amplats halts Rustenburg mines
UPDATED: Anglo American has stopped work at all its Rustenburg operations, citing
threats of violence against its employees.
Great Basin Gold to shut Burnstone, seeks $40m
The chances of recovering fair value for assets in Great Basin Gold took a turn for
the worse as the company announced it was forced to shut its key South African
mine.