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[GFI SJ] Gold Fields :: tough labor negotiations, prospects of electricity rate hike

[GFI SJ] Gold Fields :: tough labor negotiations, prospects of electricity rate hike

Gold Fields is in negotiations with labor unions to implement a six-day work week for about 10,000 employees to avoid having to lay off workers, as Eskom’s proposed 35% electricity price hike threatens margins, as electricity accounts for some 17% of mining costs. The South African Mine Health and Safety Act, which requires mining companies [...]

February 1 2010 | Posted in Basic Materials, Basic Resources, COMPANIES, EMEA, Mining, Platinum & Precious Metals, South Africa, Stocks | Read More »