Anglogold Ashanti strikers return to work

Striking workers at the Anglogold mine in Carletonville The miners' strikes to have wracked South Africa since August are mainly over pay disputes

Related Stories

Striking miners at two South African Anglogold Ashanti pits have agreed to return to work as tensions across the country's mineral sector ease.

Hundreds of miners have been holding underground sit-ins this week at the Anglogold Ashanti site at TauTona and Mponeng 40 miles west of Johannesburg.

The strikers demanded early payment of a bonus, an Anglogold spokesman said.

South Africa's mining industry has been wracked since the summer by widespread strikes and sporadic violence.

"In both these cases these people, who represent less than 2% and 5% of the respective workforces, returned safely to surface after holding talks with the mines' management," said Anglogold Ashanti in a statement.

Employees had been promised a 1,500-rand ($173, £108) bonus, a company spokesman said, but this would only be paid out "at a later stage, based on safety and attendance outcomes".

Work at the mines, which employ 10,000 people, is expected to resume with the night shift on Sunday.

A series of strikes across the mining industry has crippled output and had a major effect on the economy since August.

Mass dismissals

Many other mining companies besides Anglogold have been affected by the industrial unrest, in which over 80,000 workers have downed tools.

Striking workers have been involved in several fatal clashes.

In the worst incident, more than 40 people died in August in clashes between police and striking workers at Lonmin's Marikana platinum mine near Rustenburg, 120km (70 miles) north-west of Johannesburg.

Miners have primarily been demanding higher wages, while the owners have variously responded with offers of conditional bonus payments, or mass dismissals.

Anglo American Platinum has sacked and subsequently reinstated 12,000 workers at its site in Rustenburg, but the miners have so far refused to return to work.

One mine belonging to Gold Fields remains shut after 8,500 workers were fired for striking, while on Thursday Xstrata sacked 400 workers for an illegal strike at its Kroondal chrome mine.

South Africa is one of the world's biggest producers of precious metals and has a huge coal-mining industry.

Also on Friday, striking coal miners at the Mooiplaats mine returned to work.

The colliery's owner, Coal of Africa, has agreed to increase their wages by 26% retroactively from July this year, including medical care and allowances for housing, shift and underground work.

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Business stories

RSS

BBC Business Live

  1.  
    RBS PROFITS 12:04:
    RBS one month share price graph

    RBS shares have dropped in the wake of the full interim report from the bank, which includes the warning all the investigations being faced by the bank may "materially" impact results. Note, though, that last week when the good stuff was revealed, the shares sprang up the chart.

     
  2.  
    SHARP PROFITS 11:50:
    A model of Japan's electronics maker Sharp shows off new 4k liquid crystal display (LCD) TV

    Japanese electronics firm Sharp has reported a 55% year-on-year increase in its operating profit for the April to June quarter, beating forecasts. The results are due in part to healthy sales of the firm's liquid-crystal display (LCD) televisions in some countries including China.

     
  3.  
    MARKET UPDATE 11:35:

    European stock markets are seeing a bit of a sell off ahead of this afternoon's US jobs report.

    • The FTSE is 1.3% lower at 6641.30
    • The Dax is down 2% at 9214.15
    • The Cac-40 has lost 1.4% to 4187.08
     
  4.  
    RBS PROFITS 11:18:

    The list of investigations RBS is facing runs like this: Mortgage backed securities, Libor, Foreign exchange manipulation, Credit default swaps, shareholder litigation, card protection plans, interest rate hedging, interest rate hedging and Madoff. It is not an exhaustive list.

     
  5.  
    RBS PROFITS 11:03:

    We recall RBS was bounced into an early release of interims last week because, when the numbers arrived, they proved surprisingly better than the market was expecting. Today's reiteration of the results wasn't therefore expected to have anything surprising in. But there's this: "It is not possible to estimate reliably what effect the outcome of these investigations [forex, Libor etc], any regulatory findings and any related developments may have on the Group, including the timing and amount of fines or settlements, which may be material." So, that's all clear then.

     
  6.  
    WILLIAM HILL 10:47:

    The betting giant gives detail on that record-breaking World Cup. Across the tournament as a whole, wagering was £208m, up 80% on the 2010 outcome. Gross win margin was down (18.4% versus 27.9%).

     
  7.  
    RUSSIA SANCTIONS 10:27:
    Veg stall in Poland

    More on the impact sanctions between the European Union and Russia will have. Poland's deputy prime minister says these will knock 0.6 percentage points off his country's economic growth this year. This week Russia announced a ban on most fruit and vegetable imports from Poland. "Currently, our exports to Russia have fallen by 7% and by 26-29% to Ukraine," he says.

     
  8.  
    IAG PROFITS 10:08:

    ONe more from IAG has also ordered eight Airbus A350-900s and eight Airbus A330-200s for its Iberia Airline's long haul fleet. The aircraft will be delivered between 2015 and 2020, it said.

     
  9.  
    MANUFACTURING OUTPUT Via Email

    David Richardson, head of manufacturing at Lloyds Bank Commercial Banking, notes: "The overall performance of the manufacturing sector so far this year has been positive. The country's makers have offered a robust source of job creation and export activity, in the face of a strengthening sterling."

     
  10.  
    MANUFACTURING OUTPUT 09:45:
    Chart showing manufacturing output over the last year

    The UK manufacturing industry continued to grow in July but did so at its slowest pace for a year, says analysts Markit. Its purchasing manager's index fell to 55.4 from 57.2 in June. That's still well above the 50-mark, which separates growth from contraction but suggests the industry could be slowing in preparation for higher interest rates.

     
  11.  
    IAG PROFITS 09:25:
    Iberia aeroplanes are parked at Madrid's Barajas T4 airport terminal

    Splitting out the figures British Airways made an operating profit of 327m euros (£260m) compared with an operating loss of 95m euros for Iberia Airlines for the first six months of this year.

     
  12.  
    MARKET UPDATE 09:07:

    European markets are lower ahead of a US jobs report due out later today, which is expected to show 230,000 jobs were added to the economy last month, a decline from the previous month's 280,000. The biggest riser on the FTSE 100 is British Airways and Iberia Airlines owner IAG - up 2.3% to 338.40p - after it swung back into profit in the first half of this year.

    • The FTSE 100 is lower by 0.72% to 6681.69
    • The Dax is down 0.81% to 9330.89
    • The Cac-40 has fallen 0.72% to 4215.46
     
  13.  
    RBS PROFITS 08:52:
    A woman walking past the headquarters of the Royal Bank of Scotland

    Royal Bank of Scotland has released its profits for the first half of 2014 in what can only be described as a quirk of officialdom. The bank was originally planning to publish its results today, but having discovered how good they were got really excited and released them a week early. So it appears there is nothing new to see here.

     
  14.  
    WILLIAM HILL 08:34:
    Betting slip

    William Hill - the high street and online betting chain says "record-breaking World Cup wagering drives second quarter operating profit growth" - but pre-tax profit was down 15% at £222m.

     
  15.  
    IAG SHARES 08:21:

    IAG shares are off to a strong start on the back of the results announcement. They're up 4%.

     
  16.  
    RENTOKIL INITIAL RESULTS 08:19:
    Horrible moth

    Rentokil is a whopping player in the pest control business. "Revenue growth was particularly strong in our Pest Control category," it reveals, "reflecting good growth... supported by improved organic performance and a number of pest control acquisitions." Growth through acquisitions; not scary. Improved organic performance? Does that mean there are more moths, rats, wasps and such for it to kill?

     
  17.  
    HEADLINES
  18.  
    IAG PROFITS 08:05:
    A British Airways Airbus A380

    Spanish cousin Iberia is becoming less of a drag on IAG's overall performance it seems. IAG says Iberia's restructuring continues to have "a positive impact". Last week Iberia agreed a deal with unions "on collective redundancies for pilots and ground staff" that could see a further 1,427 jobs axed. IAG says: "This will create new opportunities for Iberia to enhance its profitability further in the next two or three years."

     
  19.  
    RUSSIA SANCTIONS 07:51:
    Russia adidas shirt

    European companies say sanctions against Russia are already taking their toll, reports the Financial Times. Adidas shares dropped 15% after its profit warning yesterday - it's closing stores in Russia. Also seeing an impact are Volkswagen and Siemens.

     
  20.  
    DIRECT LINE RESULTS 07:41:
    Dog

    Direct Line is the largest motor insurance group in the country. It reports an 8% rise in six month profits to £225.1m. Brands include Churchill, Privilege and the Green Flag roadside recovery service.

     
  21.  
    IAG PROFITS 07:28: BBC Radio 4

    IAG boss Willie Walsh tells Today the airline group is "doing very well" and is on course to deliver its full year guidance. The conversation quickly turns to safety. British Airways and Iberia have been avoiding Ukrainian airspace since March, he says. "We don't look at the cost at all. It's simply a case that we look at whether it is safe to fly over an area or not," he adds. "We don't fly over Libya or Syria." But the airline judges that it is now safe to fly over Iraq.

     
  22.  
    IAG PROFITS

    British Airways and Iberia Airlines owner International Airlines Croup has swung into profit. It has reported pre-tax profits of 155m euros (£123m) for the last six months, compared with a loss of 177m euros a year earlier.

     
  23.  
    RENTOKIL INITIAL RESULTS 07:10:

    Office services business Rentokil Initial said its half year profits rose 38.9% to £66.8m.

     
  24.  
    US ECONOMY 06:59: Radio 5 live

    More from Terry Savage on the US economy. She says the US Federal Reserve policy of quantitative easing "has created all of this money... and all that money has not gone into, so far at least, good paying jobs or homebuilding. It's gone into the stock market and... made the rich a lot richer."

     
  25.  
    PORTUGAL BANK 06:47: BBC Radio 4
    Woman outside BES

    Bill Blain from Mint Partners tells Today Portugal's government has a tough decision to make on BES: "Does it bail it out as 'too big to fail', or does it stand back and let the bank sort itself out? Many want the debt holders to pay the cost of this."

     
  26.  
    TOUGH MUDDER 06:36:
    Man leaping

    The Today programme likes a natter with a company boss of a Friday morning. Today's is Will Dean from Tough Mudder. People pay him £100 to spend time on an obstacle course - jumping, swimming, crawling through mud and so forth. Why? "It's not a race its a challenge. It's about team work over 12 miles. Its a set of individual challenges to test you mentally and physically." Fine.

     
  27.  
    PORTUGAL BANK 06:28: BBC Radio 4

    Shares in Banco Espirito Santo lost 42% yesterday after the bank announced a loss of 3.6bn euros (£2.8bn). Bill Blain from chief strategist at Mint Partners tells Today this is "Deeply concerning for all bankers looking at Europe. It's [Europe] had 450bn of new capital to sort out the relationship between sovereign debt and the banks. What the Banco results show shows is the bank remained a piggy bank for the family".

     
  28.  
    US ECONOMY 06:15: Radio 5 live

    The US releases jobs data later today - GDP figures earlier this week showed the US economy growing strongly. Expectations are that another 230,000 jobs could have been added to the US economy in July and that the unemployment rate may - we'd stress the may here though - have fallen below 6%.

     
  29.  
    US ECONOMY 06:07: Radio 5 live

    US financial expert and businesswoman Terry Savage tells Wake Up to Money the US economic recovery is still difficult to read: "It's kind of a glass half full/half empty kind of thing. Different parts of the economy have picked up, particularly consumer spending on autos and other big items," she says. "It's not what we would call a booming economy . It's just so much better than what we have had for the last few years."

     
  30.  
    06:01: Rebecca Marston Business reporter, BBC News

    In a short while we'll have results from William Hill and British Airways owner IAG trading updates. And we'll have an eye on everything else that's going on. bizlive@bbc.co.uk @bbcbusiness.

     
  31.  
    06:00: Matthew West Business Reporter

    Morning folks. So what's happened overnight? Well the World Trade Organisation has failed to agree a global customs deal.... again. But manufacturing in China grew at its fastest pace in more than two years in July, according to the latest figures.

     

Features

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.