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#BizPrime NUMBER OF THE DAY: 2.05%

264 views · Published 10 January 2018 · 2:26 · Indexed 28 September 2026

Channel: SABC News · 2018 · News & Politics

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The Number of the Day relates to the glittery stuff - gold.  
That's because gold miners did very well today - rising by more than 2 per cent - after the Supreme Court of Appeal granted a postponement of the appeal in a silicosis and tuberculosis class action suit. Attorneys had written to the court suggesting that thousands of sick miners and 6 gold mining companies involved in the legal action were close to an agreement. And that's a relief for investors in the companies. They had already set aside R5 billion for pay outs. But given that millions of workers went underground over decades before dust issues were dealt with, there was a concern that the number of claims could rise. Silicosis is caused by breathing in silica dust, affects the lungs, and can lead to TB. Lawyers representing mineworkers began to gather claimants for the class action in 2011 after the Constitutional Court ruled that a former mineworker could sue for more than 2.5 million for compensation for silicosis. More recently the courts said there could be two separate classes of claimants - one for silicosis and one for tuberculosis incurred from mining. The gold miners had appealed and that was to be the next leg of the legal battle to be heard in March. After today's postponement Anglo rose by more than 3 per cent and Anglogold and Harmony by more than 3.5%. The other respondents, Goldfields and Sibanye, rose marginally. But African Rainbow Minerals fell. 

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