• 4 minutes China 2019 - Orwell was 35 years out
  • 7 minutes Wonders of US Shale: US Shale Benefits: The U.S. leads global petroleum and natural gas production with record growth in 2018
  • 11 minutes Trump will capitulate on the trade war
  • 14 minutes Glory to Hong Kong
  • 3 mins China's Blueprint For Global Power
  • 4 hours Yesterday Angela Merkel stopped Trump technology war on China – the moral of the story is do not eavesdrop on ladies with high ethical standards
  • 3 hours IMO 2020:
  • 5 hours Brexit agreement
  • 42 mins Idiotic Environmental Predictions
  • 2 hours The Problem Is The Economy, Not The Climate
  • 22 hours World Stocks Drop And Futures Tread Water After China Reports Worst GDP Growth In 30 Years
  • 3 hours Australian Hydroelectric Plant Cost Overruns
  • 1 min The Ultimate Heresy: Technology Can't Fix What's Broken
  • 22 hours Deepwater GOM Project Claims Industry First
  • 1 day Why did Aramco Delay IPO again ? It's Not Always What It Seems.
  • 6 hours NATGAS, LNG, Technology, benefits etc , cleaner global energy fuel
Alt Text

What The Market Is Overlooking In The Occidental Deal

Occidental Petroleum has caught a…

Alt Text

This Supermajor Is Leading The Energy Sector

This supermajor has been standing…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Premium Content

The Tipping Point for South Africa

When things go wrong, usually a raft of big issues initially pile up. But after a critical mass of problems materialize, it's often a seemingly small issue that finally tips things into total chaos.

This may be it for South Africa: a lawsuit from a small group of miners, who fought the company and won.

Last week, major miner Anglo American agreed to settle with the miners, who filed suit 10 year ago claiming they contracted respiratory disease working down Anglo's shafts. The company agreed to pay compensation to the victims, without admitting liability.

The amount of the settlements haven't been disclosed, but they're certain to be sizeable. And these 23 claimants could be just the tip of the legal iceberg.

The lawyer who brought the case against Anglo said afterward that this should serve as a precedent for further claims against South Africa's miners. The law firm reportedly has another 4,000 mine workers already lined up to file similar suits. Lawyers noted this could involve up to 30 different gold companies.

With the lid now off for such claims, the costs for mining companies could get big fast.

This comes at a horribly inopportune time for South Africa's mining industry. Firms here are already struggling with ballooning labor and operating costs, as well as deteriorating, difficult mines.

A wave of compensation payouts could be the straw that breaks the golden camel. It sounds like a small thing, but after so many big problems the South African industry may simply not have the strength left to weather even a mild storm.

Here's to the tipping point,

By. Dave Forest




Download The Free Oilprice App Today

Back to homepage



Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play