Anglo American Plc

The recently negotiated 8% pay increase for gold miners will be a hollow victory for those who stand to lose their jobs.

Anglo American will face a hearing next year to determine if it’s liable for miners who contracted silicosis while working in its gold shafts.

The Competition Tribunal is expected to hear the case for the proposed merger between giants Anglo American PLC and De Beers South Africa today.

Eighteen ex-goldminers are taking on Anglo over a lung disease caused by exposure to silica dust. It’s a case that could cost the industry billions.

The world’s largest diamond group, De Beers, said its three shareholders have agreed to loan the company -million.

Anglo American scrapped its 2008 final dividend on Friday to conserve cash and said it will cut 19 000 jobs.

Anglo American is to make what is believed to be the largest foreign investment in Zimbabwe when it invests -million to build a platinum mine.

A government inspection was still ongoing at on one of South Africa’s AngloGold Ashanti’s larger mines, which was shut on Friday after a miner was killed in a rockfall, the…