South AfricaSeptember 2012 | Risk Summary
South African Finance Minister Pravin Gordhan has denied that a drop in mining revenue caused by recent labour unrest will force his government to revise its 2012 budget plan.The minister added that he hoped that mining disputes are resolved as soon as possible through negotiations between workers and mine-owners. South Africa's platinum mine industry has been hit by wildcat strikes led by workers demanding higher wages and improved living conditions. In what he called an unrelated move, Gordhan said that this year's 2.7% growth forecast would likely be trimmed due to the situation in Europe.
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