South African gold miners return to work

[ScienceRocks]

South African gold miners return to work

Most of the 80,000 South African gold miners who have been on strike since Tuesday have returned to work after a new pay offer, union officials say.

The National Union of Mineworkers (NUM) spokesman said workers for four of the seven companies had accepted the offer of an 8% rise.

The NUM had been demanding 60%, while employers had offered 6% - the same as the current annual rate of inflation.

South Africa's gold industry is one of the biggest in the world.

But it has been in decline in recent years, while the platinum sector is still recovering from violence during last year's strikes.

Power cuts

NUM spokesman Lesiba Seshoka told the AFP news agency that the remaining workers were still being briefed about the latest offer.

"This may possibly mark the end of the strike," he said.

Mine owners had warned that a long strike could lead to gold mines closing and thousands of jobs being lost, following a fall in the price of gold.

They say that their production costs have increased as they have had to dig ever deeper to extract gold.

For many years, South Africa was by far the world's largest gold producer but it is now the fifth biggest, with just 6% of world production.

However, mining is still the most important sector in South Africa's economy.

BBC News - South African gold miners return to work

 

[S.J.]

Mandela didn't do so much for S. Africa's economy, did he?

 

[bianco]

China is fast taking over Africa.
Anyone waiting for any "Chinese guilt" handover back to 'Black Africa' will likely be sorely disappointed.

Shoudn't be too long before China owns/controls all that gold.

 

[ScienceRocks]

China is fast taking over Africa.
Anyone waiting for any "Chinese guilt" handover back to 'Black Africa' will likely be sorely disappointed.

Shoudn't be too long before China owns/controls all that gold.

If that occurs the negro can only blame his own idiocy.

Sometimes you must do things yourself.

 

[Moonglow]

China is fast taking over Africa.
Anyone waiting for any "Chinese guilt" handover back to 'Black Africa' will likely be sorely disappointed.

Shoudn't be too long before China owns/controls all that gold.

only cause the Jews are selling it.