Zuma addressed reporters this morning at the Union Buildings in Pretoria on the general state of the economy, and government’s plan of action to stabalise the mining sector.

“We are not taking sides at all. That is one element that (tends) to portray the mining industry as if there are big problems in the mining sector.

“Strikes are a normal thing in a democratic country. It is only in undemocratic countries where there are no strikes,” he said.

“I don’t think we should take strikes as a problem because workers in democratic countries are allowed by law, by the constitution to go on strike.

Zuma’s remarks were viewed as contradictory to comments made by Cosatu Secretary General, Zwelenzima Vavi, who had addressed the press earlier in the day on the question of labour disputes in the mining sector. Vavi warned that protests and strike action were a “ticking time bomb”.

Following the speech, the Rand slid from R9,71, to over R10 to the US Dollar, this afternoon.

[Source : Fin24]