Monday, August 26, 2013

South African Gold Miners Threaten Strike

From businessweek.com

Article link

Two of four South African unions representing labor at wage talks with gold producers are holding out for a revised offer by the companies before deciding on whether to declare a strike.

The NUM has asked for a 60 percent increase in wages for entry-level jobs. South Africa’s annual inflation rate was 6.3 percent in July. Strikes could cost the gold industry 349 million rand ($34 million) a day in revenue, according to the chamber.

Read in full