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South Africa coal miners to strike from November 19

London (Platts)--10 Nov 2017 952 am EST/1452 GMT


South Africa's National Union of Mine Workers will strike November 19, and continue the protest "indefinitely" until employers "respond positively" to its pay demands, a union spokesman said Friday.

The decision followed a meeting of NUM members Thursday, where the union said it would issue employers' body the Chamber of Mines with a 48-hour strike notice on Thursday November 16, beginning the strike on November 19.

A Northwest Europe-based broker was yet to see much change to bid/offer prices for South Africa-origin coal, while a Mediterranean-based trader of the product said prices could push up next week due to market uncertainty.

The trader added that current stock levels at Richards Bay coal terminal were quite high, offsetting the tightness somewhat.

S&P Global Platts FOB Richards Bay 5,500kcal/kg NAR prices have been in decline since November 1, and were down to $76.75/mt FOB November 9.

Negotiations have been ongoing between employers and the union since June, when the Chamber declared wage talks would be centralized.

--Joseph Clarke, joseph.clarke@spglobal.com
--Edited by Jonathan Loades-Carter, jonathan.carter@spglobal.com

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