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South Africa gold miners set to strike

  • South Africa's National Union of Mineworkers will give gold producers on Friday 48-hour notice of its intention to strike over deadlocked wage talks, Reuters reports.
  • Negotiators on behalf of gold producers said yesterday it had made a final offer to riase basic wages by 6%-6.5%, depending on activity, which the union rejected.
  • The companies say steeper increases are unrealistic, as their operations are being hurt by rising costs and falling bullion prices.
  • AngloGold (AU), Gold Fields (GFI) and Harmony Gold (HMY) lost 5.1%, 4.6% and 4.9%, respectively.
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