South Africa’s NUM Chastises Harmony’s Takeover Bid

South African affiliate NUM sees no harmony, only dishevel in the hostile takeover of Goldfields by smaller gold-mining company Harmony. In a statement, NUM said that considering the high gold price, companies should be investing in development and job growth rather than consolidation and shrinkage. Both South African companies have retrenched numerous workers this year alone. NUM is calling for dialogue between the two companies instead of hostile “approaches that send jitters into the market and economy,” in the words of Gen. Sec. Gwede Mantashe. NUM is also opposed to a Goldfields preferred deal with Canada’s Imagold and said the mining industry in South Africa suffers an “anti-patriotic spirit” in terms of abandoning national investment.