Glencore Xstrata fires 1,000 striking South African miners

Surely this won’t solve the problem. Strikes have been quite common at South African mines all this year.

From Bloomberg:

A strike started May 28 at the Helena mine in the North-West province after an employee who is a member of the Association of Mineworkers and Construction Union accused a shift supervisor of assault, Tsatsawane said. After about 200 workers at the operation, the action spread to the Magareng and Thorncliffe mines. All three are on the Bushveld Complex, an ore body that contains chrome and has the world’s richest seam of platinum ore.

Zijin Mining Q1 profit falls amid margin compression

Gross profit margin 57.93% down 11.33ppts from 1Q12

Profit was RMB719mm down 33% from 1Q12

Hong Kong Exchange

GOLD BATH… Zijin Mining down 11% on the week

CHINA: BEFORE THE OPEN, 22Mar2013

1. Chinese ADR stocks fell the most in a week as PetroChina misses expectations

2. China Telecom aims to recruit 30m new 3G Internet users

3. Wuxi court declares Suntech bankrupt

4. Rapid growth in home-appliance sales

5. Baosteel looking to boost sales

6. Miners may ramp up IPO activity

7. Chinese auto brands get help

8. Dalian hatches plan for egg futures

9. China web users deluge Russia blog with insults

10. NYSE Euronext aims to unlock yuan potential