Latest News: It's no longer coal strikes on the table, but gold strike possibilities too
A coal strike is no longer the only big on the cards at the moment, because on Sunday 11th October the Association of Mineworkers and Construction Union (AMCU) stated their intentions to strike.
This time, it will be in the gold industry.
As reported on Africa Report,
the ANCU voted to halt operations at AngloGold Ashanti, Harmony Gold and Sibanye Gold after a crowd of around 5000 miners voted by a show of hands in Carletonville.
According to AMCU president, Joseph Mathunjwa, 'the whole gold sector has voted for a strike.'
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''Today all the members of AMCU have agreed overwhelmingly that we are prepared to go on a protected strike in pursuit of the living wage,' he said.
AMCU headed the longest strike in South Africa's mining history when it hit platinum producers last year.
As reported on Business Report,
It has demanded R12 500 for all entry-level workers, which is said to be more than double the current pay.
On top of that, gold producers are not offering much – bringing to light rising production costs as well as dropping prices. This, they argue, is hurting profits severely.
According to IOL,
the countries inflation rate was 4.6% in August.
Having said that, it can be seen that profits and 'living wages' are being nudged by inflation, creating tension in the gold industry.
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