Despite confirmed news of wide-scale sackings of striking miners in South Africa, market reports are also saying that South African gold miners and unions have signed a new wage agreement.
Gold Fields, a South African gold miner operating in South Africa, on Wednesday reported that 7,000 of the 8,100 employees dismissed at its KDC East gold mine had lodged appeals against their dismissals. They were given a final ultimatum to return to work or face immediate dismissal.
Having obtained a court order declaring the strikes 'illegal', the company sacked 8,100 of its workers when they did not return to work at its KDC East site.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Harmony Gold Mining, South Africa's third-largest gold producer, has reported that most striking workers are back at work, according to Reuters.
Harmony had given workers until midday on Thursday to return to duty or face immediate dismissal.
It remains to be seen if such tactics can bring a lasting solution to the deep-rooted issues that gave rise to the strikes.
CM
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
