Labor Unrest In Mining Industry

November 25, 2007 | By | Reply More

On the subject of labor unrest in the mining industry, South Africa’s biggest mineworkers union, the NUM (National Union of Mineworkers) plans a one-day strike on Dec 24th. in protest against increasing deaths.

Amongst the affected will be Harmony, Goldfields and Impala Platinum.

Last year saw about 200 mine workers killed in rock falls and other below ground incidents and so far this year the death toll is over 180.

The president of the NUM was addressing a global unions meeting in Thailand so expect more labor disruption in the industry worldwide.

On a ”lighter” note, how about a toothbrush that works on light alone- pardon the pun. A toothbrush has been developed that requires no toothpaste, no batteries and works by exposure to light. Its essential component is a Titanium rod that produces an electrochemical reaction with saliva in the mouth to break down plaque.

Already on sale in Japan and the USA for about $30, it also available online from Soladey. This looks like an eco friendly winner.

Anglo Platinum announced a further 125,000-ounce reduction in year-end production forecasts. The price of the metal rose $23 to $1478 an ounce by Fridays close.

What to make of reports that Russia, the worlds largest producer of palladium, building up a very large surplus of the metal, while supplies from South Africa are encountering problems, could bode exciting for out and out speculators.

Despite the possibility of Russia unloading at any time palladium managed a $12 dollar rise on the week despite over supply. One to watch!


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Category: Gold

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