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South African court blocks union bid for industry-wide mining strike

  • The Johannesburg Labor Court in South Africa has rejected a request by the AMCU platinum and gold sector union to hold an industry-wide strike, miners Anglogold Ashanti (NYSE:AU), Anglo American Platinum (OTCPK:AGPPF) and Lonmin (OTC:LNMIF) say.
  • AMCU has been on strike at Sibanye-Stillwater's (NYSE:SBGL) gold operations since mid-November in a pay dispute and wanted to extend the strike to at least 11 other mining firms including Anglo American's gold and platinum operations and Harmony Gold (NYSE:HMY).
  • SBGL has said it could cut nearly 6K jobs at its gold mining operations in a potential restructuring plan, citing rising costs for labor and electricity.

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AU--
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AGPPF--
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SBSW--
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HMY--
Harmony Gold Mining Company Limited