SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Joan Osland Graffius who wrote (115558)8/3/2001 4:24:21 PM
From: Horgad  Read Replies (1) | Respond to of 436258
 
All the mining companies you mentioned have come to terms with their workers. The only thing left is to see the impact of the increased wages on the bottom line. Labor costs are a large percent of operating costs at some of these mines. If POG goes up, it won't matter much. If POG does not go up, it will mean more mine closures.

One company that settled, Anglo Gold, announced lay-offs a couple days later. It is likely that we will see more of that. I don't see this as much of a victory for the miners. The ones lucky enough to keep their jobs will have more money, but what about the rest?

Message 16159528

businessreport.co.za



To: Joan Osland Graffius who wrote (115558)8/3/2001 5:26:27 PM
From: pater tenebrarum  Respond to of 436258
 
Joan, yes, there won't be a strike. they have settled. unfortunately not on as favorable terms as they might have, thanks to the hedge hogs Anglo and Placer folding without even attempting to negotiate. when you sell your gold forward 14 years out, you can't afford a stoppage, regardless of the union's demands.


HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News