The shares of Anglo American South Africa, Sibanye-Stillwater, Harmony Gold, AngloGold Ashanti, African Rainbow Minerals, and Gold Fields lost ground on Friday after the full bench of the court approved the R5bn compensation for former mineworkers and the dependants of dead mine workers.
Harmony Gold Mining Company closed 0.42 percent lower at R35.23 a share, AngloGold Ashanti lost 0.6 percent to R264.18 a share, Anglo American plc fell 3.3 percent at a R369.18 share, Sibanye-Stillwater closed 0.05 percent lower at R18.53 a share, Gold Fields was 1.03 percent lower at R76.18 a share and African Rainbow Minerals lost 2.17 percent at R177.94 a share.
DRD Gold, which opted out of the lung disease settlement, closed 2.16 percent higher at R4.73 a share on Friday. “It’s not good news for the companies,” Rene Hochreiter, an investment analyst at Johannesburg based Noah Capital, said on Friday.
The R5bn settlement brings an end to the seven-year battle for ex-mine workers and their families and will see the ex-mineworkers receiving claims of between R70 000 and R500 000 each.