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Bloomberg reported South African labor unrest in the platinum industry spread to AngloGold Ashanti Ltd. (NYSE:AU,LSE:AGD) shutting down a second gold mine on Thursday.
Bloomberg reported South African labor unrest in the platinum industry spread to AngloGold Ashanti Ltd. (NYSE:AU,LSE:AGD) shutting down a second gold mine on Thursday.
As quoted in the market news:
Miners mainly on the country’s platinum belt northwest of Johannesburg have bypassed conventional wage-talk routes through labor unions, starting illegal pay strikes and protests that have left at least 46 dead since Aug. 10.Lonmin Plc (LMI) workers, who halted the Marikana mine for six weeks, secured pay rises of more than four times the August inflation rate of 5 percent.