Workers will report for work tomorrow, the union says. It’s the biggest union at South African gold companies and is one of the reasons gold prices are under pressure today.
The AMCU plans a strike on Jan 23 but a court will hold a hearing on Wednesday to rule if the strike is legal. The AMCU represents about 19% of workers at gold mines.
It’s a confusion situation but the bottom line is that a strike is bullish for gold and no strike, or a limited strike is bearish.