Sibanye-Stillwater expects gold output to miss forecast amid wage strike

South Africa's third-largest gold producer after AngloGold and Gold Fields Ltd., Harmony Gold Ltd. (JSE:HAR), said Wednesday that workers at its Kusasalethu mine embarked on a strike.

75,000 miners, or 15% of the sector's workers in South Africa, are now on wildcat strikes.

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.

Frontier is advancing the Zandkopsdrift rare earth project in South Africa and in December sold 10% of the venture to Kores for $23.8 million. The South Korean state-owned company now wants to ink a more comprehensive deal.

Africa focussed diamond mine development and exploration company DiamondCorp (LON:DCP) shelved its planned auction for the month of September, due to poor prices during July and August.

A subsidiary of Beijing Haohua Energy Resource has offered Coal of Africa $100 million in equity funding following Exxaro's decision to refrain from exercising options for a stake in the South African miner's Makhado coal project.

South Africa accounts for roughly a third of Anglogold's annual output and the company is losing 32,000 ounces – worth more than $55 million at today's prices – of production a week.

38 Chinese nationals caught mining for gold illegally in the west African nation of Ghana have been arrested and deported.

The closure of AngloGold Ashanti's (NYSE:AU) nation-wide operations and Lonmin's concessions to striking workers (LSX:LMI) have raised concerns that unhealthy precedents are being set for future industrial unrest.