South African labor unrest spreads, strikes loom


South Africa's labor unrest is spreading, as tens of thousands of construction workers prepare to lay down their tools next week and gold mining unions plan to call a strike over wages.

The National Union of Mineworkers says it will consult members in the coming days to discuss strike action; NUM represents ~64% of ~140K South African gold miners, where major operators include AngloGold (AU), Gold Fields (GFI), Harmony (HMY) and Sibanye Gold (SBGL).

A construction stoppage would affect major companies such as Wilson Bayly Holmes Ovcon, Aveng (AVEPY.PK) and Group Five.

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