SA's Largest Gold Miners Propose Higher Wages

Source: Bloomberg, Carli Cooke (10/10/12)

"AngloGold Ashanti Ltd., Gold Fields Ltd. and Harmony Gold Mining Co., Africa's largest producers of the metal, offered to raise the wages of the lowest-paid workers by scrapping their job banding in a bid to curb wildcat strikes."

AngloGold Ashanti Ltd. (ANG), Gold Fields Ltd. (GFI) and Harmony Gold Mining Co., Africa's largest producers of the metal, offered to raise the wages of their lowest-paid workers to try to curb wildcat strikes.

Terms for entry-level workers and other job categories have been reviewed, South Africa's Chamber of Mines, an industry body that represents the three Johannesburg-based companies in wage talks, said in a statement yesterday. "It has recognized there are certain anomalies that need to be addressed," it said.

The chamber met labor groups including the National Union of Mineworkers yesterday after the NUM called for the current two-year wage accord to be renegotiated. Workers have bypassed unions, calling directly on management for higher pay since Lonmin Plc (LON) miners won increases of 11% to 22% after an unauthorized strike. Inflation was 5% in August.

About 41% of South Africa's gold output is idled, including all of AngloGold's mines. Two Gold Fields sites were halted after workers walked out without heeding resolution procedures set out by labor laws, while miners have been absent from Harmony's Kusasalethu operation since at least Oct. 3. . .View Full Article

Gold Explorer Highlights 2020 Achievements and Outlook
Source: Streetwise Reports (01/29/2021)

Magna Gold Corp.'s CEO Arturo Bonillas issued a letter to shareholders outlining the firm's business and financial accomplishments in 2020 and its strategy and outlook for 2021.

Cabral Gold's channel samples at the JM target provide "further evidence that numerous high-grade veins occur within the Cuiú Cuiú district."

Explorer Completes Phase 2 Metallurgical Work for Palladium-Copper Project
Source: Streetwise Reports (01/28/2021)

Generation Mining intends to wrap up the feasibility study on Marathon this quarter.

Silver Firm Reports Q4/20 Processing, Production Numbers from Mexico Project
Source: Streetwise Reports (01/28/2021)

MAG Silver's joint venture project Juanicipio produced 230,000 ounces of silver during the quarter ended Dec. 31, 2020.

Explorer Reports High-Grade Gold-Silver Intercepts at BC Golden Triangle Property
Source: Streetwise Reports (01/27/2021)

Scottie Resources Corp. advises that the target remains open in most directions.

Golden Arrow Resources Out Exploring Again After COVID-19; Hits High-Grade Gold at Tierra Dorada in Paraguay
Source: The Critical Investor for Streetwise Reports (01/27/2021)

The Critical Investor explains why he believes "investors have an interesting opportunity to invest in a pretty derisked, undervalued and experienced explorer with three chances for success."

Junior Mining Sector 'the Best Value in the Space'
Source: Streetwise Reports (01/27/2021)

The StreetSmart Live! Broadcast on Jan. 26, 2021, focused on metals and why now is a good time for investors to be looking at them and the mining space. John Newell, independent analyst and portfolio manager, and John Feneck, mining sector expert and president of Feneck Consulting, addressed the status of the current metals market. CEOs of the three metals-focused companies comprising the Metallic Group of Companies—Group Ten Metals, Metallic Minerals and Granite Creek Copper—discussed their projects.

Shenanigans Abound: Gold, Silver and Cryptocurrency
Source: Michael Ballanger for Streetwise Reports (01/26/2021)

Sector expert Michael Ballanger explores the generational trends currently shaping investment markets, including the precious metals.

MMT Survey Helps Explorer Identify New Large Target at Ecuador Property
Source: Streetwise Reports (01/26/2021)

Aurania Resources reported that data from an ongoing Mobile MT Survey identified an extensive target at Tsenken at its Lost Cities - Cutucu Project in southeastern Ecuador.