* Gold strike hits as bullion at record highs
* Week-long S.African coal strikes ends
* Strikes could hurt growth in Africa's largest economy
By Ed Stoddard
JOHANNESBURG, Aug 2 South African gold mine
workers and producers were to resume wage talks on Tuesday aimed
at ending a strike that is costing the companies up to $25
million a day in lost output at a time when the precious metal
is fetching record high prices.
The National Union of Mineworkers (NUM) said no progress was
made in talks to resolve the impasse with the country's main
gold miners, AngloGold Ashanti , Gold Fields
and Harmony Gold and a junior miner.
"The gold talks have ended, there was no progress. We will
continue tomorrow," NUM spokesman Lesiba Seshoka said late on
A spokesman for the Chamber of Mines, which negotiates on
behalf of the gold mines, also said talks would take place again
Some 100,000 gold miners downed tools on Thursday and
analysts have said a prolonged stoppage in the world's fourth
largest gold producer could help the bullion price maintain its
It has been hitting new record highs on an almost daily
basis as investors seek safe havens amid European and U.S. debt
A week-long strike against South Africa's main coal mines
ended on Monday when a wage deal was clinched.
The mounting impact of South Africa's annual "strike
season", which has also hit the fuel, diamond and steel
industries, is seen crimping growth and possibly pushing the
continent's largest economy into contraction.
Coal firms that were affected included Anglo Thermal Coal SA
, Exxaro , Optimum Coal and Xstrata Coal
. If it had persisted it could have menaced exports and
supplies to the country's power utility Eskom .
The Chamber of Mines said most of the coal companies had
agreed to increases of 8 to 10.5 percent in the first year and
7.5 to 10 percent in the second year.
In the gold talks, the NUM has been seeking a 14 percent pay
rise while the gold mine companies have publicly offered rises
of 7-9 percent.
(Editing by Angus Macswan)