Reuters: End game nears on South Africa's strike-hit platinum belt

Discussion in 'Platinum' started by BlackSheep, Apr 28, 2014.

  1. BlackSheep

    BlackSheep Active Member Silver Stacker

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    http://uk.reuters.com/article/2014/04/27/uk-safrica-strikes-idUKBREA3Q0RU20140427

    South African election next month isn't it?


    hmmm militant unions, election immenent, history of violent labour unrest, what could possibly go wrong?

    I imagine it would take a brave soul to risk the wrath of the "shaft stewards" :/


    Maybe the move by miners towards the shallower deposits of PGM's that can be mined using heavily automated procedures and require far less employees might be expedited if they don't go back en-masse? I wonder how that might affect supplies in short to medium term?
     
  2. Ronnie 666

    Ronnie 666 Well-Known Member Silver Stacker

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  3. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    Violence is starting to ramp up. And it's being directed towards the Govt.
    http://www.bloomberg.com/news/2014-...m-strikers-reject-producers-latest-offer.html

    Also read production is coming from the few mines not hit by strikes. (just can't be arsed posting them...too depressing) But it just confirms my suspicion they're stealing the low hanging fruit from these remaining deposits, which will drastically bring forward end-of-mine conditions.

    Thankfully, someone (i.e. those still left digging dirt) are beginning to question how, despite the massive drop in supply, the price of Platinum hasn't gone up. Good Question!

    http://www.reuters.com/article/2014/04/29/aquarius-plat-results-idUSL3N0NL1J520140429
     
  4. Ronnie 666

    Ronnie 666 Well-Known Member Silver Stacker

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  5. BlackSheep

    BlackSheep Active Member Silver Stacker

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  6. Ronnie 666

    Ronnie 666 Well-Known Member Silver Stacker

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