Gold fields strike
Gold faces pain as equities outlook brightens
Analysts say further gains in global stock markets this year will be a signpost of more losses for gold.
Gold Fields CEO Nick Holland on Thursday said the unbundling of Gold Fields will ensure its longevity.
The deal leaves Gold Fields with just one mine in SA, the highly mechanised South Deep operation.
Cosatu is planning protest action against the firing of striking workers in all sectors of the economy.
Harmony Gold miners have been instructed to report for work or be fired.
Over 90% of miners have returned to work at Gold Fields' KDC West mine in Carletonville.
Gold Fields mine have issued an ultimatum to workers to return to their posts or face axing.
Gold Fields on Friday said 11,000 of its employees returned to work at its KDC West operation.
Spokesperson Willie Jacobz said the workers have 24 hours to appeal against their dismissals.
Miners are ready to march to the Union Buildings in Pretoria next month.
Miners returned to three, out of four shafts at Gold Fields Beatrix Mine on Wednesday.
There is still no end in sight wildcat strikes that have gripped SA’s mining industry.
President Jacob Zuma will meet with business groups and Cosatu to discuss SA’s struggling economy.
NUM says it will find out if their members have agreed to a proposal to end their strike today.
Minister Susan Shabangu said wage discussions in the industry should bring about normality.
Num maintains it is still in control of mines, despite the sector being rocked by wildcat strikes.
Gold Fields has clarified that talks between striking workers and NUM will not centre around wages.
Delegates from NUM and Cosatu are discussing ways to end the strike at Gold Fields KDC mine.
Striking workers at Gold Fields were told a wage offer would be made to them by Thursday.