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Gold Fields, Anglo American set aside millions for possible silicosis settlement

Thursday, 27 July 2017

The mining companies released their earnings figures on Thursday.

JOHANNESBURG - Gold Fields has set aside around R400 million for a possible class action suit by miners who contracted silicosis.

The mining company released its earnings figures on Thursday and is preparing for a multi-million dollar settlement along with other mining firms.

Gold Fields Sven Lunsche says negotiations are still ongoing.

“This is not a sign that the settlement is in place. We still have a long way to go. But in terms of our disclosure requirements, we are at the position to estimate what our potential liability will be. You will see that Anglo American has made the same [reservation] this morning in their results presentation. The other four mining companies are set to follow.”

Meanwhile, Anglo American has set aside R1.3 billion for the potential settlement.

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