Chamber of Mines
headquarters, where
the new labour
agreement is due to
be signed tomorrow
 
Johannesburg, South Africa — 24 October 2012 – AngloGold Ashanti Limited,  Gold Fields Limited and Harmony Gold Mining Company “’ Africa’s largest producers of the precious metal “’ have  agreed in principle with South African labour unions on the contents of a deal aimed at ending the wave of strikes sweeping across the country.

Bloomberg News reports that the parties plan to sign an agreement tomorrow, the Chamber of Mines of South Africa said in an e-mailed statement. The chamber met with labour groups, including South Africa’s biggest union, the National Union of Mineworkers (NUM), after improving an offer to workers last week.

The strikes, which began in the platinum industry and spread to gold, chrome and iron-ore operations, have hurt companies already grappling with rising costs. Workers have walked out without heeding legal resolution procedures, leading producers to dismiss or threaten to dismiss employees.

“Today’s discussions were positive and there is a collective resolve by all the parties to end the unprotected action as soon as possible,” Elize Strydom, the chamber’s chief negotiator, said in the statement.

Close to 50 people died in August as workers protested at Lonmin plc’s Marikana operations before the company agreed to wage increases of up to 22%last month.

Source: Bloomberg News. For more information, click here.