The rand has had a very volatile year so far. This week it's already touched levels not seen for six-weeks.
The strong dollar has been putting pressure on the local currency. The impact of load shedding on economic growth is worrying investors too.
And next week, the gold mining sector begins wage talks. So what effect could this have on the rand?
Let's take a closer look at what's going ... ››› more
Last week, Eskom took steps to ensure the National Union of Mineworkers (NUM) couldn't go on strike. In spite of this, around 450 workers staged a walk out in protest last Tuesday.
Yesterday, the union told Eskom that it demands a 12% wage hike at a small demonstration at the power supplier's headquarters.
Let's take a closer look at what's going on…
The NUM delivered a memo containi... ››› more
Earlier today, the National Union of Mineworkers (NUM) expressed its dismay that Eskom went to court to obtain an interdict to prevent any strikes taking place.
Eskom used its leverage as providing an essential service to obtain the court order.
Yet, despite this, hundreds of employees took part in a walk out today.
Let's take a closer look at what's going on…
The NUM is furious w... ››› more
After the five-month long strike that crippled the production of the world's three top platinum producers, another platinum producer has signed a new wage deal without any industrial action.
Yesterday, Royal Bafokeng Platinum and the National Union of Mineworkers (NUM) announced a new three-year wage deal.
Let's take a closer look at the new agreement…
A new wage deal in the platinum se... ››› more
Last Tuesday, saw the start of a mass strike by over 220,000 members of the National Union of Metalworkers of South Africa (NUMSA). As the strike reaches its second week, talks are to continue to bring it to an end. The strike has already led to the closure of car plants. Let's take a closer look at what's going on…
Metalworkers want wage hikes of up to 15%
Earlier today, the NUMSA said talk... ››› more
Just two weeks ago, Ngoako Ramatlhodi became new mining minister when President Jacob Zuma reshuffled his cabinet. Mr Ramatlhodi vowed to bring an end to the long standing platinum sector strike, which began on 23 January. But yesterday, the minister and his government team stood down from their roles as mediators in current talks. Let's take a closer look at what's going on…
The government t... ››› more
Finally it's looking hopeful that the strike in the platinum sector could be nearing an end. The new mining minister, who took his position last week, made it his number one priority to try and resolve the strike. The stoppage is now in its fifth month. And it's not just the mining minister who is hopeful, the striking union is also positive about recent talks. Let's take a closer look at what's g... ››› more
The new mining minister, Ngoako Ramatlhodi, and his team met with the striking union and platinum producers today in a bid to bring the lengthy platinum sector strike to an end. But analysts are sceptical the mining minister will have any more luck than others who've intervened in the negotiation process so far. Let's take a closer look at what's going on…
Investment analysts don’t belie... ››› more
Earlier today, the new mining minister, Ngoako Ramatlhodi revealed that he understood the latest talks between the platinum producers and the Association of Mineworkers and Construction Union (AMCU) had broken down. He said bringing the strike to an end is now his top priority. And with GDP for the first quarter revealing the severe impact the strike is having on the economy, the pressure is on. L... ››› more
This morning, the Association of Mineworkers and Construction Union (AMCU) and the world's top three platinum producers resumed talks to try and bring an end to the near four month long strike. The market took the talks as a hint that the strike could come to an end soon with two of the producers rallying. Let's take a closer look at what's going on…
New wage talks began this morning
At 1... ››› more
This Friday marks four months since members of the Association of Mineworkers and Construction Union (AMCU) downed tools at the world's largest platinum producers. The lengthy strike has crippled platinum production at Anglo American Platinum, Impala Platinum and Lonmin. But talks are set to begin again tomorrow. Let's take a closer look at what's going on…
A Labour Court judge will presid... ››› more
Just before the long Easter weekend, the platinum producers affected by a three-month long strike tabled a new offer to the Association of Mineworkers and Construction Union (AMCU). This resulted in talks between producers and the union resuming on Tuesday. But despite hopes that the new offer would bring an end to the strike, last night it emerged talks were deadlocked. Now the platinum producers... ››› more
Last Thursday, the top platinum producers tabled a new wage deal to the Association of Mineworkers and Construction Union (AMCU). This led to renewed talks on Tuesday. With that came optimism the strike would come to a swift end. But a report suggest the chances of a deal emerging quickly are fading. Let's take a closer look at what's going on…
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Yesterday, the Johannesburg Stock Exchange ended the day strongly higher. One of the main forces driving the local bourse up was renewed talks between platinum producers and the Association of Mineworkers and Construction Union (AMCU). This gave investors hope that an end to the lengthy strike was in sight. Let's take a closer look at what happened on the JSE yesterday…
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Last week, the platinum producers affected by a three-month strike tabled a new offer to the union. Talks resumed yesterday between producers and the Association of Mineworkers and Construction Union (AMCU). They're set to continue today. Let's take a closer look at what's going on…
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Let TV s... ››› more
Talks between the platinum producers and the Association of Mineworkers and Construction Union (AMCU) look set to continue today. This follows a revised offer by the world's top platinum producers to the union. Let's take a closer look at what's going on…
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Ground-breaking announcement...
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Angry as... ››› more
The platinum sector strike is now in its tenth week. On Monday, more talks between the two sides took place at the Commission of Conciliation, Mediation and Arbitration (CCMA). But it appear that the latest bouts of talks have been fruitless. With neither the platinum producers or the Association of Mineworkers and Construction Union (AMCU) budging, the parties remain at loggerheads. Let's take a ... ››› more
The talks to try and bring an end to the seven week long strike in the platinum sector are still on hold. Over the last couple of days, the Chamber of Mines' chief negotiator made public comments about the Commission for Conciliation, Mediation and Arbitration's (CCMA) ability at brokering talks. This led the CCMA to hit back. This latest development makes it unlikely that talks will resume soon. ... ››› more
Earlier today, it emerged the top three platinum producers and the Association of Mineworkers and Construction Union (AMCU) will restart wage talks tomorrow. This as the strike enters its sixth week. With production severely affected and losses mounting, the pressure is on to find a resolution. Let's take a closer look at what's been going on…
Implats’ CEO and AMCU’s president discussed th... ››› more
It's coming up for four weeks since workers downed tools at the world's three top platinum producers. Members of the Association of Mineworkers and Construction Union (AMCU) are striking over wage demands. Despite talks beginning within days of the start of the strike, the union and the platinum producers remain poles apart. Let's take a look at what's going on…
Yesterday, the AMCU continued t... ››› more
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