South African Mine Workers Plan To Strike

June 17, 2008 | By | Reply More

The 320,000 members of the National Union of Mineworkers will join in the Labor Federations plan for a strike next month protesting about the power crises that has disrupted industry and mining throughout South Africa.

With no let up likely for the next two years at least the restricted power supply is putting many jobs at risk and stopping or slowing new projects.

 

 

Although the details of the strike are not yet finalized it is likely to impact the price of Gold and PGMs. Expect some upward movement now and gathering momentum if the strike becomes prolonged.

Labor problems are also developing in Peru with a strike threatened by the mining union. Yet another bullish scenario developing for metals!

 

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