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Gold Fields won’t be rushing to join AngloGold Ashanti in exiting the country after its last mine in SA returned to profit last year.
Gold Fields said the turnaround of South Deep opens the way for the company to do a deal at its last South African mine.
The six companies will payout R5bn in claims and miners will receive between R70 000 and R500 000, depending on which of four categories they fall into.
An agreement has been reached, bringing the 45-day strike by NUM members to an end.
The National Union of Mineworkers has confirmed that its Gauteng regional chairperson Ndlela Radebe was stabbed and injured at a mass meeting on Monday.
Gold Fields' South Deep mine has lost R178m in revenue since the strike by the National Union of Mineworkers started nearly four weeks ago, and workers have missed out on more than R56m in wages.
This is the first time that the union’s national leadership has met with Gold Fields since the beginning of the strike.
While the National Union of Mineworkers claims two of its members have been hospitalised, Gold Fields says the union has been perpetrating violence during the strike, which is costing the company R3m per day.
Gold Fields shareholders getting impatient over the company’s failure to stem losses at the huge South Deep deposit in South Africa shouldn’t lose hope, says chief executive officer Nick Holland.
Gold Fields has no plan to let go of its loss-making South Deep mine, having announced looming retrenchments of 1 560 workers.
Gold Fields has announced an accelerated bookbuild aimed at raising R4bn to fund its Salares Norte project in Chile.
The approval by the Gauteng High Court in Johannesburg for a landmark R5bn settlement with ill gold miners has been broadly welcomed by the affected parties.
Strikes at two gold producing companies have shown no sign of abating, with no production taking place at Gold Fields since workers downed tools on November 2. Fin24 takes a look at 2018 in strikes.
The nation’s 130-year-old gold industry - which has produced half the bullion ever mined on Earth - is locked in the final stages of a decades-long death spiral.
Gold Fields has presented a new offer to the National Union of Mineworkers in an attempt to end the union’s strike against retrenchments - now in its fourth week- but union officials say it is unlikely to be accepted.
Gold Fields is having to sneak maintenance teams into its South Deep mine in South Africa after protesters shot at vehicles trying to enter the site, where workers have been on strike.
Gold Fields has lowered 2018 output forecasts after workers at its South African mine embarked on a go-slow and a strike protesting the producer’s plans to cut jobs.
NUM, which represents 80% of the Gold Fields workforce, will withdraw labour from South Deep on Friday afternoon, the union has said.
Only a fifth of those who could lose their jobs at South Deep mine, western Johannesburg, would be able to find other jobs.
Mineral Resources Minister Gwede Mantashe has slammed Gold Fields management over its planned retrenchments, saying the job losses reflect "backward" leadership and scapegoating.
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