More iron ore comes to the market as Anglo’s output soars in Q1
Both iron ore and diamond output rose in the first quarter thanks to a continued ramping-up of the company's Minas Rio mine in Brazil and improvements in the gem market.
Striking gold miners have rejected the industry's latest wage offer, the National Union of Mineworkers (NUM) said on Thursday, confirming mining companies’ fears of labour unrest lasting longer than expected.
NUM's diminishing influence – blamed in part on its political affiliations and its perceived closeness to big business – is most striking at Impala Platinum's Rustenberg mine where its enrollment has dropped to 13% from 70% before.
Anglo American Platinum, the world's largest platinum producer, has fired 12,000 workers taking part in a three-week illegal strike after following through on tough talk over wildcat stoppages in South African mines.
Labour unrest at Anglo American Platinum’s South Africa operations spread on Tuesday to a new mine as the company and fellow miner AngloGold Ashanti (NYSE:AU) have hardened their stance on strikers.