South African supply issues

Posted | 17/07/2013 / Views | 1200
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In an environment where the SA National Chamber of Mines says 60% of gold mining operations are already loss making at current prices, they are battling unions over their up to 60% pay increase claims which could cripple supply out of SA.  Anglo Gold have already announced a write down of $2.6b for the last quarter on reduced productivity.  In platinum the workforce unrest continues and has supported a considerable and continued price rise given continuing strong automotive demand.  Some analysts are more bullish on platinum and palladium then gold and silver.