Coal mining sector
Australia's South32 looks to reduce interest in SA coal business
The company also added in the statement that it would invest R4.3 billion ($305.14 million) in SAEC’s Klipspruit Life Extension project.
The union has postponed the strike which was due to officially begin tomorrow as some of the coal companies are proposing a new wage offer.
South Africa’s headline consumer inflation accelerated to 6.8% year-on-year in December from 6.6% in November.
Global oversupply and a drop in coal prices to 7-year lows have hit miners and coal exporting countries hard.
More than 30,000 coal mine workers affiliated to the NUM downed tools over a wage dispute.
About 30,000 coal mineworkers affiliated with the NUM are on a nationwide strike over wages.
The bill allows government to control 20 percent of new mining and petroleum ventures.
An accounting firm says mistrust between mine bosses, govt and unions is hampering industry growth.
The union is adamant it will not settle for a salary of less than R12,500 for its workers.