Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
Union sources in South Africa have said that talks over the creation of a central bargaining platform for the platinum mining sector are slowing down as labor relations among the majority of platinum producers have begun to stabilize.
Trade union AMCU said it will not be returning to negotiations, saying that recent labor unrest in South Africa’s gold mining sector has illustrated the downfalls of such a system.
Parties involved in the talks initially planned to have a framework in place by the end of October, which is now considered unlikely by some union officials.
AMCU President Joseph Mathunjwa said today, “It is our strongest opinion that no structure formed in one or two months can be able to address the problems of the mining industry which have existed for decades.”
Mathunjwa underscored that the negotiations should not solely focus on the platinum sector but on the mining industry as a whole.
“We support the establishment of a mining industry bargaining council which will have powers to determine the conditions of employment, substantive matter and social aspects of the workers,” Mathunjwa said.
Source (English): Miningmx via BrightWire News.
