The rand weakened to a four-year low against the dollar, extending its longest losing streak in a year on concern that renewed labor unrest and falling commodity prices will weigh on South Africa’s economy.
Anglo American Platinum Ltd. said its mines are running as usual after a group of workers threatened to strike if the world’s biggest producer of the metal refuses to drop proposals to cut as many as 6,000 jobs.
Lonmin Plc platinum worker Lungani Mabutyana, 27, hanged himself from a tree on May 5 near the spot where he watched police shoot dead 34 striking mineworkers in August, a group formed by Nobel laureate Desmond Tutu said.
The death of a South African union official due to testify at the inquiry into the killings last year at Lonmin Plc’s Marikana platinum mine has prompted his organization to appeal for peace while police investigate.
Former Gold Fields Ltd. Chairwoman Mamphela Ramphele said Agang SA, a political movement she founded three months ago, has attracted 10,000 volunteers and is set on toppling South Africa’s ruling African National Congress in next year’s elections.
Sibanye Gold Ltd. rose the most in two months in Johannesburg after South Africa’s second-biggest producer of the metal said first-quarter output rose 36 percent as its mines had fewer halts than in the previous three months.
South African President Jacob Zuma said India wasn’t responsible for a security breach when a plane of wedding guests landed at a restricted air force base, and that lower level officials were to blame.