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Gold strike talks to resume Monday

Jul 29 2011 18:20 Reuters

Company Data

Gold Fields Ltd [JSE : GFI]

Last traded R110.10
Change R0.04
% Change 0.04%
Cumulative volume 2.94m
Market cap R79.77bn

Last Updated: 25/05/2012 at 19:32. Prices are delayed by 15 minutes. Source: McGregor BFA

 

Harmony G M Co Ltd [JSE : HAR]

Last traded R81.87
Change R-0.17
% Change -0.21%
Cumulative volume 1.11m
Market cap R35.33bn

Last Updated: 25/05/2012 at 19:32. Prices are delayed by 15 minutes. Source: McGregor BFA

 

Anglogold Ashanti Ltd [JSE : ANG]

Last traded R300.00
Change R-1.90
% Change -0.63%
Cumulative volume 1.33m
Market cap R114.79bn

Last Updated: 25/05/2012 at 19:32. Prices are delayed by 15 minutes. Source: McGregor BFA

 

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Johannesburg - Talks to end a strike over wages in the gold sector will resume on Monday, the National Union of Mineworkers (Num) said.

"We will be continuing negotiations then... all I can say is that we are moving closer to what we want," spokesperson Lesiba Seshoka said.

Chamber of Mines spokesperson Jabu Maphalala refused to comment on the progress of negotiations, saying only that all parties would meet again.

Gold workers went on strike on Thursday evening after wage talks deadlocked at the beginning of the week.

The Num and the United Association of SA (Uasa) have demanded a 14% wage increase, while Solidarity wants 12%.

Uasa, representing between 15 000 and 20 000 skilled workers, was taking a "phasing in" approach to the strike. Its workers at the Evander and Kalgold mines would strike on Sunday.

Should no settlement be reached, the strike would be extended to its members at other mines.

Kalgold and Evander are part of Harmony Gold Mining Company [JSE:HAR].

Harmony has offered an 8.5% increase for entry-level workers, 7.5% for mid-level, and 7% for miners, artisans and officials.

Anglogold Ashanti [JSE:ANG] and Gold Fields [JSE:GFI] have offered the lowest-paid workers an increase of 9%, middle categories 8.5% and the highest categories 8%.

Rand Uranium tabled an 8.5% offer for the lowest, 8% for the middle and seven percent for the highest categories.

The final offers were made at negotiations facilitated by the Commission for Conciliation, Mediation and Arbitration. 

 
 
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