Zum Thema AIDS

[Turon]

Gold Fields' rallying call on Aids
Sherilee Bridge
July 12 2001 at 08:31AM
Johannesburg - Gold Fields, South Africa's second-largest gold producer, disclosed yesterday that the Aids pandemic could cost the company more than R300 million, or $10 an ounce, a year unless it took considerable action.

Chris Thompson, the chief executive, said there was room for industry and the government to work together in supporting initiatives to combat and fight the disease.

He said intervention programmes could half the projected costs.

Gold Fields estimated that Aids cost it $4 for each ounce of gold it produced. Last year Gold Fields' output was about 4 million ounces. But group spokesman Willie Jacobz said last night Gold Fields was taking action that could reduce this to $2 an ounce.

Thompson said the cost of "doing nothing" could result in the costs soaring to about $10 an ounce.

"Often we hear that the mining industry, and the gold mining industry in particular, is a hot-bed for Aids. But the mining industry is, in a lot of ways, far ahead of other sectors. The transport and fishing industries have been hit the hardest," Thompson said.

South Africa has one of the highest infection rates of HIV/Aids, with 11,8 percent of the population carrying the virus. Mining is one of the worst-hit industry sectors, with about 30 percent of its 500 000 employees infected.

Gold Fields was in negotiations with the government about the possibility of an Aids retirement fund, which would help companies cope with increasing numbers of the workforce expected to take early retirement.

The group also wants the government to partner it in the rollout of support networks for retired miners who return to their homes a year or two before their deaths.

"We are looking for a balance between the most economically efficient and humane solution. The biggest impact of Aids is on the mines' production and medical costs," he said.

Gold Fields said that the Aids message coming out of South Africa was doing serious damage to the country's foreign direct investment. "The hype does the country no favours."