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☆ South Africa's ruling ANC set to lose majority in pivotal vote, early projection shows
▼ + stars: | 2024-05-30 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Residents line up to cast ballots in the national election on May 29, 2024 in Matatiele, South Africa. South African's governing African National Congress appears set to lose majority control in the country's most seismic political transition since the end of the apartheid. The International Monetary Fund projects that South Africa's gross domestic product will climb by 0.9% in 2024. The democratic process is going to emerge victorious," ANC leader and South Africa's incumbent President Cyril Ramaphosa, 71, said Wednesday on social media. The U.S. dollar was up 1.31% against the South African rand at 8:30 a.m. London time, following the report.

Persons: Nelson Mandela, Cyril Ramaphosa Organizations: Reuters, country's Council for Scientific, Industrial Research, ANC, Democratic Alliance wresting, Marxist Economic, Fighters, African National, ANC —, World Bank, Monetary Fund, South, National Union of Mineworkers, Associated Press, U.S Locations: Matatiele, South Africa, London, Johannesburg

☆ Impala Platinum halts work at some S.African mines after 11 workers died
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +1 min

JOHANNESBURG, Nov 28 (Reuters) - Impala Platinum (IMPJ.J) said on Tuesday it had temporarily halted operations at its Rustenburg mining complex in South Africa after 11 workers died in an incident at one of its underground shafts. The Johannesburg-based platinum miner said in a statement that 86 workers were involved in the incident at its No. 11 shaft and 75 injured workers had been admitted at four hospitals in the area. The company said all mining operations at the sprawling Rustenburg complex in South Africa's North West province had been suspended on Tuesday. Impala is among South African platinum producers that operate some of the deepest and oldest mining shafts in the world.

Persons: Nico Muller, it's, Felix Njini, Nelson Banya, Kim Coghill, Jamie Freed, Louise Heavens Organizations: Impala, National Union of Mineworkers, Thomson Locations: JOHANNESBURG, South Africa, Johannesburg, South Africa's, West

☆ Strike ends at major Mexican gold mine after workers pocket 8% raise
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +2 min

Mexico is a top 10 gold miner, and Penasquito has ranked among its most productive precious metals projects. Both parties agreed to an 8% salary increase for workers, the statements said, a figure below the 10%-20% hike proposed by the union initially. The miner also agreed to pay two months salary to workers if it fails to report profits in the year, the union said. The statements noted that workers will also receive a 152 million peso ($8.3 million) bonus, divided equally among them. In addition to precious metals, Penasquito also produces significant volumes of base metals zinc and lead.

Persons: Dado Ruvic, Penasquito, Newmont, Sen, Napoleon Gomez, Andres Manuel Lopez Obrador, Daina Beth Solomon, Valentine Hilaire, David Alire Garcia, Stephen Coates Organizations: REUTERS, MEXICO CITY, National Union of Mine, Metal Workers, Thomson Locations: MEXICO, Mexico, Mexican Republic, Zacatecas

☆ De Beers 'confident' talks will avert strike at S.Africa's Venetia mine
▼ + stars: | 2023-09-08 | by ( ) www.reuters.com time to read: +1 min

De Beers delivers first production from underground operations at its Venetia Mine in South Africa in this undated handout picture. On Tuesday, NUM, South Africa's biggest mineworkers' union, said it was planning a strike at Venetia, as De Beers could only offer a 6% pay increase against demands for a 9% hike. The strike by NUM's 1,500 workers would impact operations at Venetia's new $2.3 billion underground operations, which started production in July. De Beers stopped its 30-year open pit operations at Venetia in December 2022. "We are confident that through continued engagement with the union and our employees we will reach a sustainable settlement with the NUM," De Beers said.

Persons: De Beers, NUM, Nelson Banya, Sharon Singleton Organizations: REUTERS, South Africa's National Union of Mineworkers, Commission, Conciliation, Thomson Locations: Venetia, South Africa, NUM

LONDON, June 23 (Reuters) - Newmont (NEM.N) has declared force majeure on deliveries of some metal products from its Peñasquito mine in Mexico, the U.S.-listed miner told Reuters, citing strike action as a constraint on output. Peñasquito is a major producer of zinc and lead, as well as gold. In a February outlook, Newmont said Peñasquito was expected to produce between 190,510 and 208,654420 metric tons of zinc this year and 77,111 and 86,183 tons of lead. Companies declare force majeure when unexpected circumstances prevent them from meeting contract obligations. "Due to interruptions in production caused by the union strike at Newmont's Peñasquito mine in Mexico, force majeure has been declared with certain customers for some of the mine's products," Newmont said in an emailed statement.

Persons: Newmont, Peñasquito, majeure, Boliden, Pratima Desai, Clara Denina, Kirsten Donovan, Jane Merriman Organizations: Companies, National Union of Mine, Metal Workers, London Metal Exchange, Thomson Locations: Mexico, U.S, Mexican Republic, Ireland, Sweden

[1/2] South African President Cyril Ramaphosa delivers his State of the Nation Address at parliament in Cape Town, South Africa, June 20, 2019. REUTERS/Rodger Bosch/Pool via REUTERSJOHANNESBURG, Dec 1 (Reuters) - President Cyril Ramaphosa, the anti-apartheid champion who become one of South Africa's wealthiest businessmen and then its most powerful politician, was battling for his political survival on Thursday. Ramaphosa was the leading negotiator for the African National Congress (ANC) during talks that led to a peaceful end to apartheid in 1994, which enabled Nelson Mandela to become South Africa's first Black president. Shanduka Holdings, which is unlisted, has become one of the biggest black-owned groups in the country, holding 10% stakes in South Africa's biggest bank, Standard Bank, and insurer Liberty. Ramaphosa's negotiating skills at constitutional talks in the early 1990s won him grudging respect from South Africa's last white president, F.W.

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