I am saddened by news that some 40% of my native South Africa's gold production capacity has been derailed due to ongoing illegal strikes at Gold Fields and AngloGold Ashanti's operations. Here's one report (9/27):
Johannesburg - Strike contagion was unleashed on South Africa’s gold industry last night following confirmation that workers had downed tools at the remainder of AngloGold Ashanti’s South African mines.
The upshot is that combined with the illegal strike activities at Gold Fields [JSE:GFI], nearly 40% of South Africa’s productive gold capacity was down – a development that an analyst said was “catastrophic” for the industry and was sure to catalyse downsizing in the industry.
Read more
