Johannesburg - South African gold producers
reached a class action settlement on Thursday with law firms
representing thousands of miners who contracted the fatal lung
diseases silicosis and tuberculosis, the lawyers said on
Thursday.
In their statement, the lawyers did not provide an amount
but the companies have already said that they have set aside R5
billion in provisions for the settlement.
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That has already been reflected in financial results and so
it should not impact future earnings.
The companies involved are Harmony Gold, Gold
Fields, African Rainbow Minerals,
Sibanye-Stillwater, AngloGold Ashanti and
Anglo American. The latter no longer has gold assets but
historically was a bullion producer.
"The settlement is the product of commercial negotiation and
compromise, but we believe this is a beneficial settlement,"
said Carina du Toit, a lawyer with the Legal Resources Centre,
one of the law groups representing the workers.
Abrahams Kiewitz Inc and Richard Spoor Attorneys also
represented the mine workers.
The class action suit was launched six years ago on behalf
of miners suffering from silicosis, contracted by inhaling
silica dust in gold mines.
The settlement still needs approval by the Johannesburg High
Court before being implemented.