Talks Stall between Unions, S African Gold Producers

Oct. 15, 2012 10:25AM PST

Bloomberg reported that talks regarding wage disputes between unions and some of South Africa’s biggest gold producers, including AngloGold Ashanti Ltd., Gold Fields Ltd., Harmony Gold Mining Co. have stalled, shutting down 50% of the country’s gold production.

Bloomberg reported that talks regarding wage disputes between unions and some of South Africa’s biggest gold producers, including AngloGold Ashanti Ltd. (NYSE:AU-A), Gold Fields Ltd., (PINK:GFIOF) and Harmony Gold Mining Co. (NYSE:HMY) have stalled, shutting down 50% of the country’s gold production.

As quoted in the market news:

Africa’s largest gold producers will pursue legal remedies instead of continuing talks with unions after South African strikes widened, idling half of the nation’s output of the metal, the Solidarity union said.

Click here to view the full Bloomberg report.

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