South African Union To Demand Higher Minimum Wage From Gold Producers
South Africa’s Association ofMineworkers and Construction Union says it will demand a higher minimum monthlywage of ZAR12,500 (USD$953) in their upcoming negotiations with the country’sgold producers. “This is significantly higher than the ZAR10,500 per monthdemanded by the larger National Union of Mineworkers, and the ZAR7,700 permonth currently seen as the industry norm,” says BMO Capital Marketsanalyst Colin Hamilton. “This sets the scene for a fractious negotiationperiod with unions in conflict with each other as well as the mining industry.”The union will also be asking for a 5-day work week, better housing, andmaternity leave benefits.
By Anna Golubova of Kitco News; agolubova@kitco.com
Jaguar: Mining Back To Normal After Strike By Truckers Ends
Monday June 11, 2018 08:51
Jaguar Mining Inc. (TSX: JAG) announces that all undergroundmining activities at its Pilar and Turmalina gold mines are back to normalfollowing a 10-day national strike by truckers that disrupted the supply chainfor critical mining consumables, in turn impacting the company’s goldproduction. Still, Jaguar says it expects some shipping and logistics issues topersist over the coming weeks as transportation normalizes to clear deliverybacklogs throughout the country. “The company is reviewing opportunities toincrease inventory stock levels, where possible, to ensure mining activitiesremain uninterrupted and safe,” Jaguar says, adding that it will provide anupdate on the impact to production with the release of second-quarter operatingresults.
By Allen Sykoraof Kitco News; asykora@kitco.com
Gran Colombia Gold: Near Upper End Of Guidance So Far In 2018
Monday June 11, 2018 08:51
Gran Colombia Gold Corp. (TSX: GCM) says it produced 18,675ounces of gold in May, bringing the total for the first five months of 2018 to87,465, up 27% from the first five months of 2017. This also brings thecompany’s trailing 12 months of gold production to 192,461 ounces, up 11% from2017 annual production of 173,821 ounces and near the top end of 2018 guidanceof between 182,000 and 193,000 ounces. “Continuing focus on our high-gradeSegovia operations is driving our production growth as expected, and we arepleased to see that we are trending toward a total of 200,000 ounces of goldfor 2018,” says Serafino Iacono, executive co-chairman of Gran Colombia.
By Allen Sykoraof Kitco News; asykora@kitco.com
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