/ 27 July 2001

JSE OPENS DOWN ON STRIKE PROSPECTS

SOUTH Africa’s bourse opened lower on Tuesday, led by hefty losses in mining giants Anglo American and Billiton prompted by prospects of national strike by gold and coal workers. Johannesburg’s all-share index was down 0,89% to 8,627.7 points by 0716 GMT. Market heavyweight Anglo American, which has stakes in gold, coal and platinum mines, was down 1,96% to R110. Billiton traded 3,25% lower at R37,20 and world number one Anglo American Platinum Corporation (Angloplat) shed 1,79% to R274. The World’s biggest gold producer AngloGold was unchanged at R306. If mandated, gold and coal unions will begin strike action on Thursday. Officials said the unions were to meet to meet the Chamber of Mines at 0800 GMT. – Reuters