Bloomberg News

Gold Shares Fall, Strike Hits AngloGold: Johannesburg Mover

October 19, 2012

The FTSE/JSE Africa Gold Mining Index (JGOLD) fell to its lowest level in more than a month as strikes continue at South African gold mines.

The index declined 1.7 percent to 2,309 points by 9:30 a.m. extending its decline to a third day. Shares in AngloGold Ashanti Ltd. (ANG), the world’s third-largest producer of the metal, fell 2.3 percent to reach its lowest level in more than a month. The stock traded at 281.25 rand ($32.51) by 9:30 a.m. in Johannesburg.

All AngloGold’s employees are still on strike, spokesman Alan Fine said by phone today. Harmony Gold Mining Co. (HAR), Africa’s third-largest producer of the metal, said 5,400 miners at its Kusasalethu operation are absent.

Gold Fields Ltd. (GFI), the world’s fourth-largest producer of the metal, today said an unauthorized strike at its KDC West mine is over.

To contact the reporter on this story: Jaco Visser in Johannesburg at avisser3@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net


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