Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Bullion has fallen six days in a row and is set for a weekly loss of more than 4%.
Desperate relatives of possibly hundreds of illegal miners stuck underground in a disused mine shaft in South Africa waited outside the site on Friday in the hope that their loved ones would emerge safely.
The miners are in a standoff with police, who have blocked their supplies of food and water to force them out and arrest them for illegally entering the abandoned mine in search of leftover gold – a common problem in South Africa.
More than 1,000 illegal miners have already resurfaced in recent weeks as the police have cracked down, and at least one dead body has been brought up. Hundreds are believed to be still underground.
It was unclear if those remaining in the mine in Stilfontein, North West province, were unwilling or unable to get out of the shaft, which descends vertically for more than 2 km (1.2 miles) underground.
Police Minister Senzo Mchunu, who visited the site on Friday, said that authorities would work together to get them out. A cabinet minister had previously said the government would not send help because they were “criminals”.
“We need a much quicker process because it is risky and dangerous for them to remain where they are,” Mchunu told a news briefing.
Police and community members stood around the rocky entrance on Friday where a pulley had been set up to hoist men out. A community leader told local news outlet News24 on Thursday that the men were too weak to exit the mine.
“I’m here waiting for young people who are underground, who are dying,” Zimbabwean national Roselina Nyuzeya told Reuters from behind the police barricade blocking access to the gaping hole.
A woman crying nearby was waiting for her husband, who had been underground since April, Nyuzeya said.
Illegal mining has plagued South Africa for decades through small-time pilfering and organized criminal networks. Many of those who do the risky work of breaking into old industrial mines are immigrants from neighbouring countries.
They are referred to as zama-zamas – a local term that comes from the Zulu expression for “taking a chance”.
Minister in the Presidency Khumbudzo Ntshavheni said on Wednesday the government would not send help for criminals but instead would “smoke them out”.
Some community members held signs that read “Smoke ANC out” in response, referring to the governing African National Congress party.
“We are asking for help from the government to assist us so our children can come out of the mine. All we are asking for is their remains to come out,” said Matsidiso Ramolla, a 41-year-old resident of Stilfontein.
(By Thando Hlophe, Nelson Banya, Tannur Anders and Nellie Peyton; Editing by Angus MacSwan and Alexander Winning)
Comments