Mixed news on South African gold miners' strike
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.
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
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
RICS: Housing market continues to strengthen but 2025 could be challenging
The latest survey by the Royal Institution of Chartered Surveyors reports a resilient UK housing market, but warns of headwinds next year
By Ruth Emery Published
-
Bitcoin price one of the most-asked questions on Alexa - here's how to buy the cryptocurrency
According to figures from Amazon, which cover September 2023 to November 2024, pop star Taylor Swift and Bitcoin were named among the most popular Alexa queries of 2024
By Chris Newlands Published