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SA’s gold output plunges by 16.2%

schumi

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JOHANNESBURG - Output data from Statistics South Africa (StatsSA) laid bare the troubles facing the gold mining sector, indicating that gold production plunged 16.2percent on an annualised basis in May.

Adding pressure to the gold sector are the ongoing wage negotiations in the sector, with unions having already drawn a line in the sand over their demands.

Wage negotiations and conditions of employment in the gold sector between gold producers AngloGold Ashanti, Harmony, Sibanye-Stillwater and Village Main Reef, and representative unions Association of Mineworkers and Construction Union (Amcu), Solidarity, National Union of Mineworkers (NUM) and Uasa are ongoing.

The Minerals Council, formerly the Chamber of Mines, will make its opening offer to trade unions.

Solidarity general secretary Gideon du Plessis said salary increases and mining productivity must go hand in hand.

“The sale of AngloGold Ashanti’s mines to, among others, Harmony Gold and Village Main Reef has resulted in increased productivity at these mines, which can be attributed to a changing production method that is being followed under the supervision of the new management,” Du Plessis said.
More at : https://www.iol.co.za/business-report/economy/sas-gold-output-plunges-by-162-15994220
 
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