Anglo gold ashanti
End of an era: AngloGold exits South Africa
It's the end of an era as AngloGold Ashanti sells its Mponeng mine.
Unions still haven’t reached a deal with Sibanye-Stillwater, Harmony Gold and Village Main Reef.
The mining company has announced its plans, which will affect employees across different categories and levels.
The gold mining company has announced the jobs are on the line as it plans to restructure operations.
A rock-fall trapped eight workers underground on Thursday, killing two instantly.
Six mining companies, including Sibanye Gold and Anglo American, have provisionally set aside around up to R100 million for a possible settlement.
As part of its plan to keep the business viable Anglo Gold Ashanti said it was considering retrenching as many as 8,500 miners.
The company says the possible 8,500 job cuts are part of its effort to improve production and cost base of its South African business.
Two mineworkers were killed when a 3.5 magnitude earth tremor caused a rock fall underground on Friday.
The hardline Amcu union is demanding a more than doubling of wages from gold companies.
The gold producer fell 8 percent as bullion sank nearly 1 percent.
The company wants to cut jobs in overstaffed areas, with a preference given to employees over 55.
The company said its aiming for a full-year production of between 4.35 million and 4.45 million ounces.
Platinum was the biggest decliner among the precious metals.
AngloGold Ashanti regained some of the losses posted this week triggered by a planned demerger.
Johan Lesley Viljoen has been hired as chief operating officer as part of an executive reshuffle.
The falling rand has been a windfall for mines while saddling others with higher costs.
Srinivasan Venkatakrishnan says he wants to show commitment to the future of the country.
AngloGold Ashanti surged back to profit in the third quarter due to lower costs and higher production.