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Gold/Mining/Energy : Gold Price Monitor

GDXJ 121.59

+2.2%

Dec 26 4:00 PM EST

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To: Enigma who wrote (56165)	7/13/2000 11:02:39 AM
From: pater tenebrarum	Read Replies (1) of 116825

the main reason for the consolidation in SA was the need to cut costs. i can assure you that no-one is thinking much about AIDS, as it is a long term problem. what's more, the unemployment rate in SA is about 50%, so there's no pressure on the labor markets for the foreseeable future. the SA mines also import plenty of labor from the neighboring states, particularly Mocambique. the political aspect does play a role in overseas acquisitions. the SA miners hope that acquiring overseas assets will help with a re-rating of their shares, and that assumption is quite reasonable. but the domestic consolidation, which began long before gold cos. in other countries began thinking about doing something similar was primarily a result of the need to cut costs and do away with the outdated mining house system.

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