Wage strike at Harmony peaceful

As strike season commenced at South African gold mines yesterday, Harmony Gold Mine advised that members of the National Union of Mineworkers (NUM) embarked on a strike with effect from the night shift on 3 September 2013.

gold bar

The majority of Harmony’s operations have been severely affected, although all essential services personnel are at work. The NUM represents approximately 70% of Harmony’s total workforce.

Kusasalethu near Carletonville is operating at normal levels.

“We continue to engage with all the unions to reach a wage settlement and to curtail the strike.  We are encouraged by the responsible and peaceful conduct of employees engaged in the strike, and urge all parties to uphold the law and all agreements.” Graham Briggs, chief executive officer, said.

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The Harmony share price ended 3 % up yesterday at R 39.27 per share.

Tru march 13

On Tuesday, President Jacob Zuma had appealed to gold companies and unions to try to avert a strike in the iconic but waning South African industry, which once produced a third of the world’s bullion, but is now in rapid decline.

It is predicted that wage increases of around 8 % will be agreed upon during wage negotiations.