Mining Weekly reported yesterday that Sibanye Gold Ltd. (NYSE:SBGL) has not experienced any production losses since South Africa's Eskom requested that the company reduce its power consumption by 10 percent.
Articles Tagged "South Africa"
In an interview with Mining Weekly, Neal Froneman, CEO of Sibanye Gold Ltd. (NYSE:SBGL), said that illegal gold mining has become such an issue in South Africa that it might be a good idea to let the South African National Defence Force handle it.
Harmony Gold Mining Company Ltd. (NYSE:HMY) announced that the body of the miner who was not accounted for following a fire at its South Africa-based Doorknop gold mine has been found.
Harmony Gold Mining Company Ltd. (NYSE:HMY) announced that eight of its employees are dead and one is missing following a fire at its South Africa-based Doorknop gold mine.
MINING.com reported that South African gold powerhouse AngloGold Ashanti (NYSE:AU) returned to profit for the first quarter of the last four.
The Wall Street Journal reported that Gold Fields (NYSE:GFI) is under investigation by US regulators for an improper payment related to the acquisition of a gold mine.
Positive economic news is hurting gold again, but it could get worse for the metal next week, when the US Federal Reserve makes a decision on quantitative easing.
Scott Carter, CEO of Lear Capital, maintains that despite pressures on gold such as a taper of QE, the metal still has strong fundamentals going for it.
Gold strikes starting this week in South Africa could cost the country $35 million a day, Nasdaq reports in a video.
CapitalNews reports that tens of thousands of gold miners are prepared to go on strike on Tuesday, following the collapse of wage talks.