Business Report account of miners union contract settlement


By Stewart Bailey
1 p.m. South African time, August 1, 2001

Bernard Swanepoel, Harmony Gold's chief executive,
eased his company's troubles today by pulling off
an 11th-hour agreement with the National Union of
Mineworkers (NUM), ahead of a major strike. But he
didn't thank rivals AngloGold and Placer Dome South
Africa for breaking ranks at the weekend and
settling independently with the union, a
development he said jeopordised the country's
smaller gold miners.

Harmony was joined by Gold Fields, which made its
workers an identical offer. Durban Roodepoort Deep
also confirmed it had settled with the NUM

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