Gold strike averted

[silversword]

South Africa's labour court has ruled that the AMCU (who have recently caused havoc with their 5-month platinum miners' strike) are not allowed to take industrial action in the gold mining sector.source: mining.com

 

This is probably good news for anyone still trying to increase their gold holdings, as stopped production in South Africa would lead to inevitable shortages in physical supply.

[Pipers]

This won't stop them going on strike, work to rule industrial disputes will get nasty now machines breaking down fighting. Have you seen how they live in S.A. in the mining villages?

[silversword]

No I haven't, I'm guessing the conditions are appalling, but I have no desire to visit SA to check. If that sounds callous, well, maybe it is. Truthfully I want some gold, and I could do without every little thing pushing the price up just now.

[ChrisSilver]

No I haven't, I'm guessing the conditions are appalling, but I have no desire to visit SA to check. If that sounds callous, well, maybe it is. Truthfully I want some gold, and I could do without every little thing pushing the price up just now.

 

Where are the gold manipulators when you need them, I want to see them destroy gold, push it all the way down to £400 an ounce. Then I can buy some Pandas and Elephants

[Pipers]

I don't think it's callous, but its just a fact.  Last year miners were shot by police, at first reports said the miners charged at the police, but later some different footage came out that showed other police charging the miners and sending them down the hill where they were shot by different police.  This hasn't been forgotten by the miners who on mass have fallen out with the ANC (ANC cronies sit on mining boards earning millions).  S.A disputes are just as much about politics and promises made and never fulfilled.  

 

Remember S.A Gold mines have some of the highest cost per ounce 

[ChrisSilver]

Remember S.A Gold mines have some of the highest cost per ounce

Yet the krugerrand is the cheapest gold coin there is. Glad I don't have any, the Perth mint mine is much more ethical. However, I am planning on buying a Somalian elephant and gods knows where that gold came from, and how it was mined.

[Pipers]

Where are they minted ChrisSilver?

[silversword]

It always amazed me that places like Somalia and Rwanda would be able to issue bullion coins when they can't even sort out the very basics of running a country, but I think the coins are minted in Germany under license.