S Africa gold mine managers begin process of dismissing more workers

Managers at a gold mine in South Africa have begun the process of dismissing more than 12,000 striking workers.

Yet the AngloGold Ashanti mine operators insist they are still trying to bring an end to the impasse.

Haru Mutasa reports from Carltonville

Source, credit to Aljazeera- http://www.aljazeera.com/video

Major South African Banks Downgraded – eNCA

Johannesburg, October 3 — Ongoing strikes within the trucking and mining industries could have dire consequences for the economy if wage agreements are not met. Ratings agency Moody’s has downgraded the deposit ratings of five major South African banks. This comes after it downgraded Eskom, Telkom and 12 municipalities. Foreign investors are also parting with their Gold Fields shares, due to the labour disputes. The CEO of the South African Chamber of Commerce and Industry, Neren Rau, says he is no longer confident about the country’s turnaround.