- Mining companies operating in South Africa agree to settle a class-action lawsuit from workers who say they contracted deadly lung diseases in the country's gold mines.
- The companies involved in the settlement are Anglo American (OTCQX:AAUKF, OTCPK:AAUKY), African Rainbow Minerals (OTCPK:AFRBY), AngloGold Ashanti (NYSE:AU), Gold Fields (NYSE:GFI), Harmony Gold (NYSE:HMY) and Sibanye Gold (NYSE:SBGL).
- The settlement provides for compensation for all eligible workers suffering from silicosis or tuberculosis who worked in the companies’ mines at any point since March 1965; the six producers last year set aside ~5B rand ($396M) to settle the lawsuit.
- The agreement was reached following three years of negotiations and is the first class action settlement of its kind in South Africa.