News: AngloGold flags downsizing in South Africa

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AngloGold Ashanti Limited (ASX:AGG) has flagged the likelihood of prematurely downsizing its South African operations if current unprotected strikes continue. 

The gold miner has advised its South African mines remain at a standstill following the unprotected strike which started on September 20, 2012. 

 

AngloGold Ashanti says it is disappointed its employees have chosen to break their commitment to the current wage agreement. 

The company has also stated it does not intend to reward broken commitments, violence and threats of intimidation. 

AngloGold Ashanti’s South African operations employ about 35,000 people and accounted for about a third of its production in the first half.   

AngloGold Ashanti recorded a net profit of $1.6 billion in the 2011 calendar year.