‘Very significant’ rerating chance for SA gold miners – Gold Fields

A "very significant" rerating opportunity existed for South African gold producers, Gold Fields CEO Nick Holland said on Thursday. Holland said that the large gap that had existed between the market capitalisations of South African gold-mining stocks and those of far smaller international gold-mining companies had been closed in the past and, with proper management, [...]

Junior miner Goldplat looking to buy more projects – chairperson

Aim-listed gold producer Goldplat was evaluating a number of opportunities to acquire mining projects throughout Africa, with deposits of between 200 000 oz and one-million ounces of gold that would have short lead times to production, chairperson Brian Moritz said on Tuesday. This formed part of the producer’s plans to become a midtier gold-miner, with [...]

SA gold workers secure pay deal

Gold miners in South Africa have secured a "favourable" wage deal after negotiations between the country’s biggest trade union and the Chamber of Mines. Gideon du Plessis, deputy general secretary of union Solidarity, told Business Day he was "particularly satisfied" that the deal had been reached without industrial action. The news feeds on this site [...]

SA gold and platinum miners hurt by strong rand

The rand, an unusually strong currency, is set to inflict deep wounds on South African gold and platinum (among other) miners during the second quarter of 2009, argues RBCCM. Read more….

NUM, Solidarity rejects SA gold companies’ 6% wage offer

Both the National Union of Mineworkers (NUM) and Solidarity on Wednesday rejected an improved 6% wage offer made by the Chamber of Mines (CoM) in the second round of the 2009 gold wage negotiations. On May 21, the CoM had tabled an initial 5% wage increase, in addition to a number of other offers on [...]

SA gold firms expected to report improved earnings on strong gold price

South African gold majors would likely see improved earnings for the quarter ended March 31, 2009, as a result of the high gold price, irrespective of an increase or decline in production, analysts canvassed by Mining Weekly Online agreed on Monday. Cadiz Asset Management analyst Peter Major said he expected to see “decent” results for [...]

SA gold firms to report higher earnings on strong gold price – analysts

South African gold majors would likely see improved earnings for the quarter ended March 31, 2009, as a result of the high gold price, irrespective of an increase or decline in production, analysts canvassed by Mining Weekly Online agreed on Monday. Cadiz Asset Management analyst Peter Major said he expected to see “decent” results for [...]

Union seeks 15% wage hike from SA gold firms

The National Union of Mineworkers which represents some 190,000 workers in the two sectors wants a 15 percent wage increase. Read more….

SA gold sector faces tough wage negotiations

Tough wage negotiations lie ahead for South Africa’s gold sector this year, with the country’s biggest mineworkers union, the National Union of Mineworkers (NUM), saying that its members would not be the “sacrificial lamb”. NUM spokesperson Lesiba Seshoka told Mining Weekly Online on Thursday that it would not ask for less than inflation or inflation [...]

SA gold output fell to lowest level since 1922

South Africa’s gold production has dropped to its lowest level since 1922, the Chamber of Mines reported on Tuesday. South African gold production fell by 13,6% to 220 127 kg in 2008, the lowest level of production since the 218 031 kg produced in 1922. Read more….

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