Gold Fields threatens to sack two-thirds of workforce

<p>Gold Fields has threatened to sack its workers if they do not return to their posts.</p>

As industrial strikes at mining facilities continue throughout South Africa, Gold Fields has threatened to sack two-thirds of its workforce.

The company has been suffering as the violent unrest has rumbled on in the African country, with the business giving its 23,500 staff an ultimatum that they must return to work or be laid off.

Gold Fields is the world's fourth-largest producer of bullion and is one of several organisations facing union demands for better wages and conditions.

Chief executive Nick Holland said today that employees must return to their posts by no later than 14:00 local time on October 18th or face "immediate dismissal".

At 16:30 BST, Gold Fields rose by 3.2 per cent on the Frankfurt Stock Exchange to a value of €9.60.

Meanwhile, Forex Gold recovered from the morning's losses, gaining by 0.6 per cent to $1746.50 per ounce.

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