Its said that the action, which was scheduled to begin with the night shift and could involve tens of thousands of workers, will affect 3 main mines other smaller miners operating in the world’s fifth-largest producer of gold.
Basically ‘the strike was called when wage talks broke down after the National Union of Mineworkers, which has been demanding 14 per cent pay rises, rejected the companies’ offers of between 7 per cent and 9 per cent increases. The industrial action comes at a time when gold prices have soared to record highs of more than $1,600 per ounce’.
AngloGold Ashanti, South Africa’s biggest gold producer, said “it would be forced to cease mining operations because of the industrial action, with only essential services continuing”.
“We are trying to resolve it as quickly as possible,” the company said. “The economic damage will depend on how long it goes on.”
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