Hedge funds slash bullish wagers on gold over Trump election win
Hedge funds and other large speculators boosted net-long positions by 11% to 197,362 as of Nov. 12, the lowest in 14 weeks.
South Africa’s Labour Minister Mildred Oliphant is arranging union talks in an attempt to stop a recent wave of violence that led to the deaths of two organizers over the past month, Bloomberg reported Tuesday.
Workers at Lonmin’s (LON: LMI) Marikana mine went on strike after a man believed to be a National Union of Mineworkers’ (NUM) member was shot dead and another person was injured on Monday.
Under increasing pressure to find solutions, Oliphant met leaders of NUM and the Association of Mineworkers and Construction Union (AMCU) on Monday and plans to host more talks in the near future, according to a government spokesperson.
Tensions remain high as the AMCU has been successfully recruiting NUM members and Lonmin employees into its ranks.
NUM is an ally of South Africa’s ruling Africa National Congress (ANC).
Lonmin is one of the largest primary platinum producers in the world and the largest PGM producer with mines and refineries located in South Africa, and exploration that extends to North America, Australia and Southern Africa.
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